Pacquiao vs. Mayweather: Latest Odds and Preview for Superfight

For the longest time, getting Manny Pacquiao and Floyd Mayweather in the ring to face one another looked like the biggest mystery in the boxing world.

While the two sides had reportedly been close to signing a fight contract six years ago, it never happened. When Pacquiao got knocked out by Juan Manuel Marquez late in 2012, it looked like the ship had passed.

But thanks to a chance meeting at a Miami Heat game in January, the two sides put past differences aside and agreed to fight May 2 at the MGM Grand.

Figuring out the business end of the fight was difficult and complicated; working out a game plan for how the fight will proceed in the ring is a bit more straightforward.

Fighter Odds to Win	Fighter Odds to win by stoppage	Will fight go the distance?
Mayweather, 10-21	Mayweather, 13-2	Yes, 1-4
Pacquiao, 7-4	Pacquiao, 5-1	No, 33-10

According to OddsShark.com, the undefeated Mayweather has been the steady favorite since the fight looked like it would get past the planning stages.

Mayweather is a 10-21 favorite over his opponent, which means you have to put up $210 to get a return of $310 if you want to back Mayweather to win the fight by any means.

Pacquiao backers will get a much better return if Manny can pin the first loss on "Money May's" resume. Pacquiao is a 7-4 underdog, meaning a $100 bet will return $275 if Manny wins.

The odds have been relatively stable since the fight was announced. Mayweather has been a solid $210 favorite as the wagers have come in on the fight.

However, there's a lot more than just straight betting in this huge fight, which is the biggest on the boxing stage since Evander Holyfield and Mike Tyson met in 1997.

In addition to betting on who wins and loses, over/under bets are also popular propositions. In this fight, there are 1-3 odds if you believe the fight will go the distance. Bettors who believe the fight will end via a stoppage or knockout will get a 23-10 return for their $100 wager.

Bettors can also go into much greater detail with this fight. Those who want to predict the fight will end in a specific round with a victory by either fighter will get paid handsomely. For example, if you think Mayweather will knock Pacquiao out in the third round—and that's the actual result—the bettor will get paid at a rate of 50-1. That's the same rate Pacquiao backers will get if he registers a stoppage in the third round.

Think of this fight as the Super Bowl of boxing. If you can think of a reasonable proposition, there will probably be an opportunity to bet on that particular outcome.

Earlier in the week, there were reports that the contract for the fight had not yet been signed and tickets had not been delivered.

Well, according to ESPN.com's Dan Rafael, those issues have been decided, and it's now time for boxing fans to bet the fight and locate the OddsShark.com propositions that will be the most enjoyable to wager.