Canelo Alvarez vs. Terence Crawford is the result of the 2023 superfight between Terence Crawford and Errol Spencer Jr.
Terence Crawford and Saul "Canelo" Álvarez step into the ring Saturday night (September 13) in a Netflix presentation at Allegiant Stadium.
The middleweight superfight has become one of the year's defining sporting spectacles, merging boxing's tradition of high drama with the financial intrigue of the gambling world. Both fighters have received large wagers with Crawford receiving one of the biggest at the last minute.
The betting lines tell their own story. At BetMGM, a single bettor placed a staggering $2 million wager on Crawford at +140 odds. If the undefeated champion pulls off the upset, the payout will be $2.8 million.
Another bettor backed Crawford at Caesars Palace with $715,000 at the same line, a stake that would return just over $1 million. Both bets reinforce a growing narrative: Crawford, the underdog, is commanding surprising confidence among high-stakes gamblers.
That trend isn't isolated. Andrew Babakitis, risk manager for the Westgate Las Vegas SuperBook, revealed that Friday afternoon saw another surge of action on Crawford -- specifically on him winning by knockout.
"We took a large bet on Crawford to win by stoppage," Babakitis said, noting the impact. "That moved Álvarez from -180 down to -160. We're exposed on both fighters if the fight ends early. We may need a decision just to balance the ledger."
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The line movement underscores how volatile public sentiment has become. Álvarez opened as a -200 favorite at BetMGM but dropped to -150 by Friday evening. Crawford, once listed at +175, tightened to +150.
While only 23 percent of wagers back Álvarez, nearly 42 percent of the total money remains on his side, a testament to the Mexican champion's enduring star power. Crawford, meanwhile, has captured the underdog momentum, accounting for a third of total bets.
Perhaps most surprisingly, 44 percent of wagers and total dollars at BetMGM have landed on a draw, an outcome often overlooked in marquee fights. That unusual trend highlights how razor-thin many see the margin between these two champions.
For Las Vegas, it's a perfect storm: two icons colliding, fans divided, and sportsbooks bracing for impact. Crawford versus Álvarez is more than a fight -- it's a night where risk, reward, and legacy share the same stage.