- Dmitry Bivol defeated Canelo Alvarez via unanimous decision on Saturday night to retain his WBA (super) light heavyweight title.
- Bivol entered the fight as a 4/1 underdog and Alvarez the massive -500 favorite at the BetOnline App.
- The loss was Canelo’s first since 2013 when he was beaten by Floyd Mayweather Jr. as the +245 betting underdog.
Nobody was talking much about Dmitry Bivol before Saturday night. To many fight fans and boxing bettors, Bivol was just another name on Canelo Alvarez’s resume. However, the WBA (super) light heavyweight title proved his worth and spoiled the day for Canelo’s bettors.
Bivol outboxed Alvarez for 12 rounds and although the judges scored the bout closer than most people did, the champion retained his belt via unanimous decision.
Bivol Pulls Off 4/1 Upset on Canelo
Bivol pulls off the 4/1 upset on Canelo Alvarez.
— Barstool Sports (@barstoolsports) May 8, 2022
Alvarez entered the fight on Saturday night as the -500 betting favorite and Bivol the +400 underdog at the BetOnline App. A Circa Sports, Canelo closed at an even shorter -570 price and Bivol at a longer +445. Alvarez went as high as -600 at Circa Sports after round 2 and was still the -205 betting favorite before round 7.
However, Bivol started to take over in the 8th round with his jabs and straight hands. At the end of the round, the tide had turned and the odds had flipped. Bivol was the -285 favorite and Canelo the +220 underdog. Alvarez fought back in the 9th and the gap narrowed with Bivol at -205 and Canelo at +160. But it was Bivol who finished stronger and his odds shortened to -600 after the 10th round. The judges backed the odds as Bivol won via unanimous decision in a massive upset.
The defeat was only the second in Canelo’s professional boxing career and his first setback in nearly a decade. The only other time that Alvarez lost was when he suffered a unanimous decision loss to Floyd Mayweather Jr. in September 2013. Canelo closed as the +245 betting underdog against Mayweather, his longest odds ever.
— Mick Akers (@mickakers) May 8, 2022
According to the online sportsbook BetMGM, bettors were betting heavily on Canelo. The said sportsbook said that 46% of the tickets and 77% of the total betting handle for the bout were wagered on the Mexican who opened at -400 and closed at -500. Meanwhile, only 37% of the betting slips and 18% of the handle were wagered on Bivol. Interestingly, 17% of the ticket and 5% of the handle were gambled on a draw.
The largest reported bet made on Canelo was a $350,000 wager -500 odds via BetMGM. That bet would have cashed only $70,000 if Alvarez won the fight. Like many punters, that bettor didn’t see the upset coming. Canelo had won 16 consecutive bouts entering Saturday night and was a heavy betting favorite against Bivol.
One bettor who made money from Bivol’s betting upset was former Canelo opponent and boxing great Floyd Mayweather Jr. who took to Instagram minutes after the decision was read to display a betting slip worth $10,000 made on Bivol at +425 odds. Money Mayweather won $42,500 on that bet and cashed $52,500 which he labeled as an “ easy pick-up” in his Instagram post.