A remarkable variety of upsets at UFC Fight Night 61 led to a historical beating for the sportsbook Bovada.LV.
Frank Mir’s victory over Antonio Silva in the main event in Porto Alegre, Brazil, on Sunday night marked the 10th win costing Bovada almost $1 million, according to the manager of the sportsbook.
Underdogs went 10-1, and consequently, parlay bets, where players bet between $1 and $5 hit large.
According Bovada sportsbook director Kevin Bradley, 1 bettor had a $ 4 all-underdog parlay that paid $85,000 to. Another had.
“We had at least a dozen of those stakes which paid out $10,000 or more,” Bradley explained.
When was tallied up, Bradley stated almost $ 1 million was approached by the loss on the event.
“We take in so much more money on the NFL or the NBA that if you have these kinds of parlay winners, it is hard to hurt [our business],” Bradley said. “With UFC, this will be hard to come back from.”
“Ordinarily, going in an event, I know what we need,” Bradley added. “However, I had been concentrated on the Oscars and the Daytona 500, each of which we had been… performing well on. What occurred with UFC is just so rare.”
Bradley said the result was such a loser for the sportsbook that Bovada will likely have to win big from the Floyd Mayweather vs. Manny Pacquiao fight on May 2 to create its UFC/boxing publication a rewarding one in 2015.
“We’re not getting this money back from the people that won,” Bradley said. “The type of bettor that wins these stakes throws a tiny sum of money on all the favorites or all the underdogs to try to become wealthy. Well, I guess it worked.”

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