Wagering on boxing has been very lucrative over the years for bettors. We’ll take a look at ways to minimize risk while maximizing profits, especially for the bettor looking to dip their toe into the pugilism betting pool for the first time.

Boxing betting: Ways to bet

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2-way betting: Each individual bout can simply be wagered upon picking a straight-up winner, similar to a

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moneyline bet in the other major sports, with a favorite and an underdog.

Also, there is often MMA prop betting on big events. Props are specialty bets such as “who will win fight of the night bonuses” or “will McGregor win by strikes, submission or decision.” They are fun wagers, but can be profitable, much like Super Bowl props where fans love to bet. Golovkin opened as a -400 favorite against Derevyanchenko in their upcoming fight, which means you'll need to bet $400 to win $100. Meanwhile, Derevyanchenko is a +325 underdog, meaning if you bet. This bet allows you to wager when you think the fight will finish. For example, in a three-round non-title fight, you may be able to bet whether or not the fight will finish before or after 2.5 rounds. If you bet that the fight will finish under 2.5 rounds, you need the fight.

3-way betting: Each individual bout can be wagered upon picking a winner or by choosing to select a draw (or tie).Method of victory: If you like a fighter to win, but perhaps he is an overwhelming favorite, you can be more specific to mitigate your risk. There are a few different ways a bout can end. A fighter can win on points, either by KO/TKO/Technical Decision or disqualification (DQ).Round betting: Fights, particularly the big-ticket events, can be bet by picking a winner in a particular round. Rather than betting on the 2- or 3-way betting line, it can be more lucrative to bet on a fighter to finish his opponent in a particular round. It’s difficult to pinpoint, and sometimes it’s good to bet on several rounds to be on the safe side, but it can pay off very handsomely.

Boxing betting: Key betting terms to know

Favorite: The fighter who is more likely to win the fight will require more than your return on investment.Underdog: On the flip side, this is the fighter not expected to win. It can be more lucrative than taking the favorite, as you will return your stake and plus-money from your wager.Push or Draw: A wager which ends in a tie, which is not a losing ticket, but not a winning ticket, either. You simply receive your wager back.

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Chalk: This refers to a heavy favorite. For example, -200 and higher is considered heavy chalk.Parlay: If you were to bet two fighters to win on the 2-way line, for example, you would need to win each end of the bet to cash. You can still win a parlay if one end wins and the other is a push.

Boxing betting: How do odds work?

Boxing odds can vary greatly. Sometimes the favorite is not too expensive, but other times, particularly in undercard or preliminary events, the favorite can have rather high odds. For example, if you were to bet a heavy favorite at -800, you would need to risk $80 to profit just $10. An underdog wager at +550 would profit $55 on a $10 bet.

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