Shane Mosley Reveals How He Lost a $1M Bet for Failing to Beat Canelo Alvarez

Published 09/15/2021, 10:00 AM EDT
LAS VEGAS, NV – MAY 05: (L-R) Canelo Alvarez throws a left to the body of Shane Mosley during their WBC super welterweight title fight at the MGM Grand Garden Arena on May 5, 2012 in Las Vegas, Nevada. (Photo by Al Bello/Getty Images)


Canelo Alvarez couldn’t intimidate Shane Mosley when the two were confirmed to clash back in 2012. However, in their fight, Mosley was outclassed for all 12 rounds. The defeat cost Mosley a chance of becoming the WBC super welterweight champion.

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However, ‘Sugar’ lost way more than that belt, as he had bet $1 million on himself. It clearly didn’t go well for him, as Mosley had to spend most of his paycheck to close off the debt. In an interaction with Mario Lopez on OK BET, Shane Mosley expressed his views on Canelo Alvarez, both as an opponent and now the ‘face of boxing’.

‘Sugar’ said, “They were gonna pay me $600,000 [for the Alvarez fight], but I made a bet for a million dollars that I was gonna beat Canelo, and if I would’ve won I’d have $6 million.”

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“I was thinking this snot nose kid is not gonna beat me at 154 [pounds]. I had to pay $400,000 for getting my butt kicked. Canelo got me.” (h/t BoxingScene)

Following that loss, Mosley fought five more times, winning three of them and losing two. The American elite then moved over to the media section and is a regular analyst in today’s boxing world.

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On the other end, Canelo Alvarez has gone on to become one of the biggest superstars of the sport. He is currently the WBC, WBA, WBO, and Ring super middleweight champion, looking to grab the IBF belt in a showdown against Caleb Plant in November.

Shane Mosley is now a fan of Canelo Alvarez

Nine years since defeating Mosley, Alvarez’s resume has seen him topple several elite-level rivals. From Gennady Golovkin to Daniel Jacobs and Billy Joe Saunders, none could crack the Mexican superstar. Hence, once a rival, Mosley now has nothing but love for Alvarez. On looking back to his fight and now, Mosley could see the P4P King’s impeccable rise in the sport.

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‘Sugar’ continued, “Canelo is a man now. When I fought him he was 22 years old.”

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 “The guy is a total package. He’s pound-for-pound the best right now. He knows old school and new school. I was surprised by the knowledge that he had. He beat me, and it’s obvious that he’s a great.” 

As of now, 31-year-old Canelo Alvarez holds a record of 56 wins (38 KO), 1 loss, and 2 draws. Considering his age, he looks favorable to stick around for several more years. Hence, his already legendary resume might tout triple-figure win digits, setting him apart from all of his contemporaries.

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Raj Sarkar

2388 articles

A senior boxing writer at EssentiallySports, Raj Sarkar is a mass media graduate who is currently pursuing his master’s degree in broadcast journalism. In addition to his current role, he has worked with the MMA team at EssentiallySports and has interviewed prominent fighters such as Ritu Phogat and 'The Red King' Rory MacDonald. He combined his bachelor's degree with his adoration for combat sports and has a combined 2000 plus bylines in MMA and boxing over the last two years.

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