How UFC icon Conor McGregor lost $745,000 in just three and a half minutes thanks to one crazy decision

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UFC superstar Conor McGregor has suffered a huge betting loss after Francis Ngannou's stunning first round knockout win over Renan Ferreira on Sunday's PFL event.

McGregor, who has an estimated worth of approximately $200million, announced on social media over the weekend that he was backing Renan Ferreira to knock out Ngannou. 

What's more, he was betting $745,000 ($US500,000) on the outcome, posting a shot of his digital betting slip for proof. 

'It's a ruthless business and I'm a ruthless man,' he explained.

Unfortunately for 'The Notorious', Ngannou pulverised Ferreira in the first round to crown himself the PFL's Super Fights heavyweight champion.

It's not the first time the Irishman has bet big of combat sports, with McGregor betting $745,000 on his old rival Nate Diaz to beat Jorge Masvidal in a boxing match. 

'I've decided to put $500,000 (US) on Diaz to win tonight's boxing match,' McGregor posted to X before the July event. 

'Range, form, experience, solely hands being used, I can't see Masvidal causing any problems to Nate in a boxing ring whatsoever. They are both little play around dipsh*ts in a fight, play around bollox, but I feel Nate does him in EASY here for real. $500k gets me back $1,625,000 all in.'

Conor McGregor placed $745,000 on Renan Ferreira to win on Sunday - and it didn't take the former UFC heavyweight champ long to prove the bet was a shocking mistake

Francis Ngannou (left) produced a stunning KO over Ferreira in the first round of their PFL bout (pictured) 

In that instance, McGregor cashed in with his large wager.

Ngannou followed his stunning knockout of Ferreira by dedicating the stirring victory to his late son, Kobe.

'I only did this fight because of him. I wanted to fight for him ... I hope they can remember his name, because without Kobe, we wouldn't be here tonight,' he said of his 15-month-old son in a post-fight interview.

Kobe died in April after doctors failed to detect a brain malformation.

A day earlier, Ngannou told CNN that Kobe was 'a brave guy'.

'He came as a king and he left as a king.,' Ngannou continued. H'e was just something special. For some reason, he couldn't live longer. I had to look at him so many times and was impressed. I couldn't believe he was from me.'

'The Predator' cut an emotional figure after fight before dedicating the win to his late son Kobe

After some early heavy kicks from both fighters Ngannou, who hadn't fought in mixed martial arts since January 2022, took the fight to the mat and eventually got behind his Brazilian opponent, landing a series bludgeoning punches to end the fight with 88 seconds left in the first round.

'This fight for me was also a way for me to find out if I could still fight, if I still have it,' he said. 'If I can deal with this, with the pressure, with the fight week, with the media and everything.''

Saturday's event broke with the PFL's usual format of a regular season and playoffs to put on a series of 'super fights' with belts at stake as Ngannou made his return to the sport where he made his name after a foray into the world of boxing.