ow-->o before r in English; in fact, the other diphthongs turn to full vowels in this context as well (though you can articulate 'flour' and 'fire', say, as one-syllable words, producing a diphthong-r sequence--but that's another kettle of fish)
Hey, Wordniks -- how do you pronounce this word? Is it just beau + regard? If so, then don't you think it's weird that the first vowel sound is not the same as in "bore", "core", "door", and so on? Frankly, I can't think of any other word in which this particular vowel comes directly before an R. Can you?