Source: Cris Esqueda/Golden Boy / Getty
If betting on yourself was a crime (which it is in most professional sports leagues), Garcia would be getting a life sentence for his recent winnings.
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Garcia appeared to confirm that he bet on himself to win his fight versus Devin Haney. According to Garcia, he placed a $2 million dollar wager to pay out $12 million dollars, which netted him a grand total of ‘about’ $50 million dollars on the night.
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Devin Haney, who was undefeated at prior to their bout, was about to grasp the silver rope (lining) in his defeat. While Haney was handed his first professional loss as a boxer, he was awarded an additional $1.5 million in earnings and he did not have to hand over his championship belt due to Garcia’s failure to adhere to the contractual agreement.
Both fighter agreed to have the championship bout weighing in at 140 pounds. According to sources, Garcia and Haney shook hands on Thursday that they would each owe one another $500,000 for every pound they were overweight. Ryan Garcia came to the weigh-in drinking a beer and weighed in at 143.2 pounds. Garcia was then ordered to pay out Haney $1.5 million dollars and Haney no longer had to relinquish the title if he lost.
Can you bet on yourself in boxing?
There are certain loopholes a fighter can find in able to place a wager on themselves. According to fightermatrix.com, This is only valid for individual matches and sports, like boxing, MMA, or tennis. “Therefore, if UFC fighters want to bet on themselves, they can, under the right circumstances.” A.J. Riot wrote, but it is imperative to keep an eye on what UKGC has to say about these specific actions, as they can be subject to change.
Garcia took to social media a screenshot of a social media post that read “Ryan Garcia reportedly bet $2,000,000 on himself to defeat Devin Haney and was paid out $12,000,000to confirm” and confirmed these notions in his caption.
“If you bet, BET ON YOURSELF
on top of what we made. EATING GOOD
About 50 million ( probably more )in one night not too shabby
I will let God guide me on how to use this money Amen ” Garcia posted on Instagram .
Check out social media reactions to Ryan Garcia’s Bet below!
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