There's only one bet safer than a T-bill and it pays 16%
Floyd Mayweather will humiliate Conor McGregor
You can buy a T-bill expiring in September that yields an annualized rate of almost 1%.
There's a safer bet that pays more than 16% but you can only get it in Las Vegas.
This week boxing superstar Floyd Mayweather announced he will fight UFC superstar Conor McGregor on August 26. It's been in the works for a long time but you never know if a fight is going to happen until it's official.
It's being billed as the biggest pay-per-view in history. It might net $500 million.
I can't believe anyone is going to pay to see this. I despise Floyd Mayweather's style but he's the greatest defensive boxer ever, very likely the greatest boxer ever. He's going to toy with Conor McGregor. He's going to humiliate him. It's like a panther against a kitten in a 16x16 cage.
It shocks me bookies are taking bets on the fight at all. Even more shocking are the opening odds. Mayweather to win is as low as 1/6. That means you need to bet $6 to win $1, which is a 16.7% return in a little over two months, or about 80% annualized.
Fight night update: In a true demonstration of the pure madness of crowds and how stupid people are with their money, the odds on Mayweather have fallen to 1/4. That's giving McGregor a better chance than real boxers like Victor Ortiz and Zab Judah had against Mayweather.