Floyd Mayweather confirmed the date for the highly anticipated bout Wednesday. Fans can look forward to him to fight Conor McGregor Aug. 26, 2017. Wagers on a fight between the two spiked at the announcement of the forthcoming face-off.

Here are probabilities for the match considered by oddsmakers: The Westgate Las Vegas SuperBook showed Conor McGregor +700 as the underdog while Floyd Mayweather Jr. was the favorite to win with -1100. 

READ: Floyd Mayweather vs. Conor McGregor Fight Date Finalized: When And How To Watch

Fans betting on McGregor to upset Mayweather could take a hit, as the MMA fighter is beyond inexperienced in the boxing ring. 

Mayweather was initially a huge -2250 favorite. And reasonably so, as he is considered one of the greatest fighters of this generation. McGregor’s odds to win are understandably low because he is someone who has never participated in a professional boxing bout.

READ: Conor McGregor's Instagram Post Sparks Speculation That Agreement With Floyd Mayweather Is Coming

Speculation over the fight initially started when Conon O'Brien asked McGregor about possibly fighting Mayweather during the July 2, 2015 episode the “Conan O'Brien Show.” Subsequently, Mayweather and McGregor have been taking shots at each other in the media and over social media. The fight has reportedly been in the works for some time. 

"This matchup is unprecedented," Stephen Espinoza, GM of Showtime Sports told ESPN. "There has been overwhelming demand from fight fans, and it's great to be able to deliver. As we've already seen this evening, the Mayweather vs. McGregor fight generated buzz that reaches far beyond that of the considerable boxing and MMA audience. Both Floyd and Conor are trendsetting personalities who've transcended their respective sports. They carry unmatched reputations for spectacle and athleticism, and together they will create a once-in-a-lifetime event."

Mayweather, 40, has been in retirement for two years and has not had a fight since beating Andre Berto in September 2015. The outcome of that fight was a unanimous decision. The champion has an impressive 49-0 record and has never suffered a knockout. 

McGregor, 28, is UFC’s most dominant fighter. However, he may be at a disadvantage due to his inexperience in the boxing ring. He's never taken part in a professional boxing match before, but he is considered possibly the most devastating puncher in MMA. McGregor has two UFC championships and is the only fighter in history to accomplish such a feat.

Win or lose, both fighters stand to make a pretty penny off this fight. Back in 2015, Mayweather vs. Pacquiao generated  $72.2 million off of ticket sales. Each ticket was worth an average of $4,451, and the fight sold 16,219 tickets at MGM Arena. If Mayweather fights McGregor at the new T-Mobile Arena in Las Vegas, they have an opportunity to sell 3,200 more tickets.

When it’s all said and done, this could be the highest grossing fight in history.