UFC 61 Upsets Cost Online Sportsbooks Almost $1M

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During the UFC 61 fights everything didn’t go according to plan. With many online sportsbooks making certain fighters the favorite over their opponent, the night certainly was not kind to them. As the UFC fights on Monday night progressed, there were more than just a few upsets. As you can imagine, this did not make the sportsbooks nor some of the fans very happy. The final fight between Frank Mir and Antonio Silva marked the end of a night full of upsets; where the underdogs actually won 10 out 11 times. The famous online sportsbook Bovada reported that these upsets cost them almost $1 million. With those gamblers that bet on the parlay, even with $1 and $5 bets were able to win big. Kevin Bradley, Bovada’s sportsbook manager, stated that one gambler with a $4 all-underdog parlay paid out $85,000, while had another four $1 parlays pay out $25,000. There were at least a dozen more bets that paid out $10,000 or more, which led to the sportsbook losing money. Bradley feels confident that even with this loss, the sportsbook still manages to bring in a lot of money with NFL and NBA; however, it will be hard to recover from this big UFC hit.