UFC 196 Betting Recap: Online Sportsbooks got crushed

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Online sports bettors struck gold when Holly Holm upset Ronda Rousey back in UFC 193 as a 6 to 1 underdog, and last night they did it again.

UFC 196 saw Holly Holm go down in flames as a -300 favorite after Miesha Tate landed a perfect rear naked choke in the closing minutes of round five.

Tate to win by way of submission paid +885, meaning that a $100 wager returned $885 in profit.

Making the blow more painful for sportsbooks is that Holm simply had to survive round five to coast to a decision victory, with the only scare coming in round two as Tate had Holm on the ground for much of the five minutes.

McGregor vs. Diaz Upset
The dogs were not done barking, not by a long-shot.

In the night's main event, Conor McGregor was also submitted as a big -450 favorite against Nate Diaz in round two.

The outcome was bloody for online betting sites, with BetOnline tweeting before the fight that "If Nate Diaz upsets Conor McGregor, it will be our 2nd biggest loss on a fight in history of the company", said spokesman Dave Mason.

Heritage Sports bettors similarly had a great night, a Heritage spokesman said the following to Sportsbook Review: "Bettors saw lots of value in the underdogs and it was too good to pass up. Even customers that didn’t have an opinion, had reason to get down on the highly publicized fight night. UFC underdogs gave new meaning to “Super Saturday” and most our fight fans went along for the ride."

A whopping 62% of bets were on Nate Diaz according to the SBR Odds wagering consensus, with the average payoff around 3.5 to 1, meaning a $1,000 wager returned $3,500 in winnings.

Diaz to win by submission paid out at 6 to 1, as did Diaz to win for bettors who took advantage of the in-play betting odds offered by 5Dimes after round one, which saw McGregor bloody Diaz' grill.

UFC 197: Jones vs. Cormier Betting & UFC Props
Bettors and sportsbooks alike now shift their focus to UFC 197 and the return of Jon "Bones" Jones in a rematch with current champion Daniel Cormier. Jones is an average -320 favorite so far for the April 23 PPV event, which takes place from Madison Square Garden in New York City. Bettors can view the early UFC 197 prop bets on offer from sportsbooks at the UFC betting directory.

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