The Maloofs placed an $880,000 bet on Mayweather to defeat McGregor, according to LVSportsBiz.com. If Mayweather wins, as expected, the bet would pay out $160,000 in winnings.
That sounds like a huge amount to wager for a relatively small payout, but there’s more to it than the wager itself. The Maloofs own an anti-hangover product called “Never Too Hungover.” If Mayweather wins, Never Too Hungover will donate the $160,000 winnings to charity.
“This is a fun and exciting way for Never Too Hungover to give back to the community,” Joe Maloof told LVSportsBiz. “What better way than to tie it to the biggest sporting event in history.”
The Maloof family has deep ties in Las Vegas and sports. The family once owned the Sacramento Kings of the NBA. They now are minority stakeholders in the Vegas Golden Knights, an NHL team that will begin play later this year. They were also once majority owners of the Palms Hotel & Casino.