Manny Pacquiao Upset, Filipino Betting Favorite for Philippines Presidency

Posted on: August 22, 2021, 09:08h. 

Last updated on: August 22, 2021, 11:04h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Manny Pacquiao could be done with boxing after the 42-year-old — regarded as one of the greatest boxers of all-time — lost handily to 35-year-old Cuban challenger Yordenis Ugas.

Manny Pacquiao odds Philippines president
Manny Pacquiao sustains one of many punches landed by Yordenis Ugas on August 21, 2021. Pac’s defeat might signal the end of his 26-year professional boxing career. (Image: Getty)

Heading into last night’s pay-per-view spectacle held at T-Mobile Arena on the Las Vegas Strip, Pacquiao was the heavy favorite at north of -400. That implies a winning chance of 80 percent. A $100 bet, should Pacquiao have prevailed, would have won just $25.

Ugas was called in to fight only last week after 31-year-old Errol Spence Jr., the current unified welterweight world champ, was forced to withdraw after suffering a retinal tear in his left eye.

Ugas was a long underdog at more than +300 at most books. His stunning victory net $300 per $100 wagered. All three judges scored the fight for Ugas in the unanimous decision.

“I’m very excited, but most of all, I want to thank Manny Pacquiao for giving me this moment in this ring today,” said Ugas (27-4, 12 KOs). “Now the plan is to unify the title at welterweight,” Ugas stated. “Errol Spence is the next one on the list.”

“I’m sorry I lost tonight, but I did my best,” stated Pacquiao (62-8-2, 39 KOs), likely apologizing to the vast majority of fans in attendance cheering him on, many of who also had action on him winning.

Pacman pondered his future in wake of defeat.

I don’t know. I need to relax and make a decision,” he explained.

Political Future

Manny Pacquiao is much more than a boxer in his native Philippines. Along with being a sports superstar, Manny has served the nation as a senator of the Philippines since 2016.

Pacman is a strong contender to replace controversial President Rodrigo Duterte. The Philippines elects presidents to a single six-year term. Duterte will be succeeded next year, the new leader scheduled to assume the office on June 30, 2022.

Online betting exchange PredictIt has Pacquiao with the second-best odds of winning the 2022 presidential election. His shares of becoming the 17th president of the Philippines are trading at 28 cents. However, that price is down considerably from 38 cents prior to his Ugas loss.

Duterte’s oldest daughter, Sara Duterte-Carpio, a lawyer and politician who is currently the mayor of Davao City, the same role her father held before running for president, is the betting favorite. Mrs. Duterte-Carpio’s shares are trading at 41 cents, a price that has slowly declined over the past month from 53 cents.

Manila Casinos Reopen

The president of the Philippines has the ultimate authority to dictate orders regarding health emergencies. And as of yesterday, August 21, Duterte allowed Metro Manila to ease restrictions by moving from an Enhanced Community Quarantine (ECQ) to Modified ECQ (MECQ).

The latest COVID-19 classification allows casino hotels in the capital city to reopen. But casinos must remain closed to the general public, special invited guests being the exception.

Manila’s Entertainment City is where the majority of the country’s gross gaming revenue is generated. The Philippines’ gaming regulator revealed today that GGR from Manila’s four integrated resorts — City of Dreams, Solaire, Okada, and Resorts World — was down 30.5 percent in the second quarter of 2021.