The fight between Floyd Mayweather and Conor McGregor is set to become the most lucrative event in the history of combat sports.

The fight – which will take place on August 26 at the T-Mobile Arena in Las Vegas – was announced on May 18 and a flurry of bets was immediately placed on the outcome.

The contest is now expected to become the biggest betting event of the year in the United States and several other international markets, surpassing even the Super Bowl LII.

Mayweather is the overwhelming favourite to beat McGregor and preserve his flawless professional boxing record come fight night, although because of his long odds, the majority of bets placed have been on McGregor to win.

Floyd Mayweather v Conor McGregor: Trash talk in 60 seconds

Here’s everything you need to know about betting on the super-fight.

What are the latest odds?

Unsurprisingly, Floyd Mayweather is the favourite to win and can be backed at odds of 1/6.

Conor McGregor is the underdog, although his odds have shortened dramatically since the promotional tour, which he is widely adjudged to have won. He can now be backed at 4/1.

The odds on a draw are currently 50/1.

The fight is expected to become the most lucrative boxing match of all time (Independent)

What are the most popular bets?

According to the website Oddschecker, the most popular bet is on McGregor to win, at odds of 11/2 (Black Type).

That’s followed by Mayweather to win at 2/11 (SportingBet) and then a draw at 50/1 (Paddy Power).

McGregor will make his professional boxing debut on August 26 (Getty)

How did the promotional tour affect the odds?

During the press tour, McGregor confidently announced: “He has little legs, a little core, a little head – I’m going to knock him out inside four rounds, mark my words”.

The bookies currently have McGregor to win by knockout priced at best price 13/2. But bettors seem convinced by McGregor’s confidence as Oddschecker say that 44% of all round bets have backed the Irishman to win inside 4 rounds.

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(Photo by Al Bello/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 03-mayweather-mcgregor-trash-talk-timeline.jpg Mayweather vs McGregor: From trash-talk to super-fight 04-mayweather-mcgregor-trash-talk-timeline.jpg Mayweather vs McGregor: From trash-talk to super-fight 05-mayweather-mcgregor-trash-talk-timeline.jpg Picture shows an arrangement of copies of The Sun newspaper front pages on February 13, 2012. Rupert Murdoch's British tabloid The Sun condemned police raids against its journalists as a "witch-hunt" worthy of former communist states, and won rare support from rival newspapers. AFP PHOTO / LEON NEAL (Photo credit should read LEON NEAL/AFP/Getty Images) AFP/Getty Images Mayweather vs McGregor: From trash-talk to super-fight 06-mayweather-mcgregor-trash-talk-timeline.jpg LAS VEGAS, NV - AUGUST 20: Conor McGregor waits for the start of his welterweight rematch against Nate Diaz at the UFC 202 event at T-Mobile Arena on August 20, 2016 in Las Vegas, Nevada. McGregor won by majority decision. (Photo by Steve Marcus/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 07-mayweather-mcgregor-trash-talk-timeline.jpg LAS VEGAS, NV - SEPTEMBER 13: Floyd Mayweather Jr. looks on while taking on Marcos Maidana during their WBC/WBA welterweight title fight at the MGM Grand Garden Arena on September 13, 2014 in Las Vegas, Nevada. (Photo by Al Bello/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 08-mayweather-mcgregor-trash-talk-timeline.jpg LAS VEGAS, NV - JUNE 02: Mayweather Promotions CEO Leonard Ellerbe introduces honoree Floyd Mayweather Jr. during the 2017 Southern Nevada Sports Hall of Fame induction ceremony at the Orleans Arena on June 2, 2017 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 09-mayweather-mcgregor-trash-talk-timeline.jpg TORRENCE, CA - FEBRUARY 24: UFC featherweight champion Conor McGregor speaks during an interview after a news conference with lightweight contender Nate Diaz at UFC Gym February 24, 2016, in Torrance, California. (Photo by Kevork Djansezian/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 10-mayweather-mcgregor-trash-talk-timeline.jpg LAS VEGAS, NV - MAY 02: Floyd Mayweather Jr. throws a left at Manny Pacquiao during their welterweight unification championship bout on May 2, 2015 at MGM Grand Garden Arena in Las Vegas, Nevada. (Photo by Al Bello/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 11-mayweather-mcgregor-trash-talk-timeline.jpg LAS VEGAS, NV - MAY 02: Floyd Mayweather Jr. looks on during the welterweight unification championship bout against Manny Pacquiao on May 2, 2015 at MGM Grand Garden Arena in Las Vegas, Nevada. (Photo by Al Bello/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 12-mayweather-mcgregor-trash-talk-timeline.jpg Mayweather vs McGregor: From trash-talk to super-fight 13-mayweather-mcgregor-trash-talk-timeline.jpg Mayweather vs McGregor: From trash-talk to super-fight 14-mayweather-mcgregor-trash-talk-timeline.jpg NEW YORK, NY - MARCH 17: (L to R) Conor McGregor, & Michael Conlan celebrate Conlan's 3rd round TKO win over Tim Ibarra in his super bantamweight bout at The Theater at Madison Square Garden on March 17, 2017 in New York City. (Photo by Ed Mulholland/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 15-mayweather-mcgregor-trash-talk-timeline.jpg NEW YORK, NY - NOVEMBER 10: UFC Featherweight Champion Conor McGregor addresses the media during the UFC 205 press conference at The Theater at Madison Square Garden on November 10, 2016 in New York City. (Photo by Michael Reaves/Getty Images) Getty Images Mayweather vs McGregor: From trash-talk to super-fight 16-mayweather-mcgregor-trash-talk-timeline.jpg Mayweather vs McGregor: From trash-talk to super-fight 17-mayweather-mcgregor-trash-talk-timeline.jpg LAS VEGAS - MAY 23: Musician Musician Keith Urban performs onstage during the 41st Annual Academy Of Country Music Awards held at the MGM Grand Garden Arena on May 23, 2006 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images) Getty Images

Of all bets on the fight, the most money has been staked on Mayweather to win in round 1 at 33/1, followed by Mayweather to win in rounds 2 and 3, priced at 25/1 and 20/1 respectively.

In the last six months, McGregor has accounted for 62% of bets between the pair, but the money has been split almost exactly 50:50. Bettors clearly fancy the value in McGregor, with the confident punters backing Mayweather with bigger stakes.

What are the best signup offers?

Paddy Power are offering Conor McGregor to win at 40/1 and Floyd Mayweather to win at 20/1.

In both instances, the offer is for new customers only with a £1 max stake, with winnings paid in free bets.

How many people are going to bet on the fight?

Simple answer: lots.

The fight is expected to be the biggest betting event of 2017 (Getty)

Year after year, the Super Bowl is the biggest betting event of the year in the United States. But this year it could well be eclipsed by Mayweather’s fight with McGregor.

Kevin Bradley, the sports book manager at Bovada, recently told Yahoo:

“We knew this fight would be big, potentially even bigger than the Super Bowl, but now we are almost certain it will be. The recent trash talking and promotional tour is only encouraging bets and at this rate we cannot even imagine how much we will take on it.

“One thing is for sure though, we will need Mayweather huge. A McGregor early round KO as he promised would be a potential disaster and is partly a reason we are giving a great price on Mayweather at the moment.”