Odds on Conor McGregor to beat Floyd Mayweather shorten dramatically after late rule change

The Irishman's odds have shortened dramatically over the last 24 hours

The Irishman's odds shortened after the late rule change (Getty)

The odds on Conor McGregor beating Floyd Mayweather have shortened dramatically in light of the news that the Nevada State Athletic Commission had approved a late request from both men to wear 8oz rather than 10oz gloves.

The two met are set to meet on August 26 at the junior-middleweight weight limit of 154 pounds, which meant that 10oz boxing gloves are mandatory according to NASC rules. But on Wednesday, the Commission announced that they would relax the 10oz law on a one-time only basis.

Both men had submitted an appeal to fight with 8oz gloves instead. Mayweather had nearly all of his 49 professional wins using 8oz gloves, which may accentuate one of his advantages - his hand speed. Meanwhile McGregor preferred the lighter gloves since he is used to the fingerless, 4oz gloves typically worn in MMA.

“That's it in a nutshell, you've got pros and cons on both sides,” McGregor commented on Wednesday evening. “Favours us both in certain ways.”

Following the announcement that 8oz gloves would be used in place of 10oz gloves, McGregor’s odds shortened to 4/1 with many bookmakers – his shortest odds since the announcement of the fight over two months ago.

Odds on Mayweather winning the contest also moved to 1/4 with Betfair, representing his longest odds since the fight was first announced.

“The gloves announcement has had a huge impact on betting for the fight, with £1.5m wagered on the outcome alone since yesterday, taking the total close to a staggering £15m bet with more than a week still to go,” said Katie Baylis, a spokesperson for the company.

“Not only has a lot of money been staked since yesterday, but we’ve also seen over 2,000 individual bets placed with 40% of those on McGregor to win which has seen his odds shorten to 4/1, the shortest they’ve been since the fight was announced, while Mayweather’s odds are at his longest yet at 1/4.

“McGregor’s bold prediction that he will beat Mayweather Jr in two rounds now that 8oz gloves have been approved has garnered plenty of headlines around the world this morning and punters who are as confident as the Irishman of that eventuality can get odds of 12/1 for the fight to be all over before the bell rings for round three.”

McGregor's odds have shortened since the announcement (Getty) (Getty Images)

The odds on McGregor winning by way of knockout also changed dramatically, with Betsafe shortening the odds on a McGregor KO victory from 7/1 to 6/1.

Odds on a shortened method of victory for McGregor by either KO, TKO and DQ also changed, from 9/2 to 4/1. The bookmaker are also offering new customers odds of 49/1 on McGregor to beat Mayweather.

While most pundits have McGregor, who has never boxed professionally, as a heavy underdog, the Dubliner said he was determined to prove the doubters wrong.

“I'm just looking forward to Aug. 26, going in and proving what I'm saying and educating the world on what martial arts is,” he added after the gloves announcement. “And earning my respect in this game also.”