Source: Balazs Boxing

Figure 1
Step 1: Place the thumb loop around your right thumb and start with the hand wrap across the back of your hand, Figure 2.
Figure 2	Figure 3
Step 2:Wrap a few times around your wrist, Figure 2, and then at least once around your thumb, Figure 3. The hand wrap should feel snug around your wrist and hand, not tight.
Figure 4	Figure 5
Step 4: Now wrap your knuckles a few times keeping the fingers of your right hand spread apart, Figure 4. With the remaining hand wrap, alternate wrapping your wrist once or twice and then your knuckles once or twice, Figure 5.
Figure 6	Figure 7
Step 5: Periodically, make a fist to make sure you have not wrapped your hand too tight. Finish wrapping around your wrist and secure the hand wrap with the Velcro strap, Figures 6 & 7.