Fight fans are betting big on Terence Crawford defeating Canelo Alvarez in Saturday night's title fight.
Two large sum bets have come in on the underdog to emerge victorious.
Key Takeaways
- Crawford shortened from +140 to +125 at Caesars.
- BetMGM said the event is expected to be the most popular in boxing this year.
- Crawford could become the first undisputed three-division male champion in the four-belt era.
First, a Caesars Palace bettor in Las Vegas will win more than $1 million if Crawford defeats Alvarez. The $715,000 wager, placed at +140 odds, will pay $1.001 million if Crawford is named the winner by any method.
Yahoo Sports’ Ben Fawkes posted Friday on X that Caesars had received the six-figure wager.
The massive stake helped shift the odds at Caesars, which now has Alvarez as a -150 favorite and Crawford as a +125 underdog.
Huge bet comes in at Caesars Palace in Vegas on #crawfordcanelo fight:
— Ben Fawkes (@BFawkes22) September 12, 2025
$715,000 on Terence Crawford to win at +140 odds
Bet would win $1.001 million
Not to be outdone, a bettor placed $2 million at BetMGM on Crawford to beat Canelo to win $2.8 million.
MAJOR WAGER ALERT 🚨
— BetMGM 🦁 (@BetMGM) September 13, 2025
A bettor placed $2 million on Terence Crawford to defeat Canelo Alvarez tomorrow night at +140
The bet would payout $4.8 million 🤯
Gambling problem? Call 1-800-GAMBLER
BetMGM senior trader Alex Rella said Canelo vs. Alvarez odds are expected to draw more interest than any other fight this year.
Rella also revealed that as of Wednesday, Alvarez had received 49% of the money, while Crawford had received 45% of tickets. Thirty-six percent of bets and 13% of the handle were on the fight to end in a draw.
“While Alvarez has taken a slightly higher handle in the 3-way money line (contains a draw), Crawford has received more than double the action than Canelo in regard to our 2-way money line,” Rella said. “I anticipate the action will shift more in Alvarez's direction as we get closer to fight night.”
A daring move
Crawford’s venture into Alvarez’s 168-pound weight class is arguably the most daring move of his career.
Crawford, known as “Bud,” is the first male boxer in the four-belt era to become the undisputed world champion in two divisions. If he defeats Alvarez, he will improve that record to three weight classes.
There’s just one problem: The 41-0 (31 KOs) boxer only has one fight in the 154-pound division, meaning he’s essentially moving up nearly 30 pounds from his usual territory just to take on Alvarez, arguably the biggest star in boxing.
Alvarez, who is 63-2-2 (39 KOs), won 14 of his last 15 bouts, including a tune-up against William Scull in May. He’s a regular in the super middleweight division, one of the four divisions in which he has won world championships. The others include light middleweight, middleweight, and light heavyweight.
Alvarez is no stranger to moves up in weight class. His second career loss came in 2022 when he attempted but failed to capture the light heavyweight title from Dmitry Bivol.
The main card for the event will begin at Allegiant Stadium in Las Vegas on Saturday at 9 p.m. ET.
