EDDIE HEARN and Jake Paul have been forced to cancel their $1million charity bet on the winner of Katie Taylor’s bout with Amanda Serrano.
The duo made the wager earlier this week, with both confident that their fighter would prevail.
Taylor overcame Serrano in front of a packed Madison Square Garden on a historic night for women’s boxing.
But Hearn won’t be walking away with Paul’s money, after it emerged that promoters are not allowed to bet on their own fights.
The duo do have an alternative in the works.
Matchroom chief Hearn, 42, said prior to Taylor’s win: “I’d love to sit here, be billy big balls and go ‘he can keep it’ but we were actually advised as promoters that we shouldn’t be betting on our own fights which I feel dreadful about because it would have been beautiful to take a million off of him.
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“But we are coming up with something else for charity.
“So myself and Jake have been coming up with an alternative which is going to make you laugh a lot.
“It probably involves me getting knocked out, but that’s only if Katie loses.
“If not, it’s going involve Jake Paul getting knocked out.”
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After the fight, the Problem Child said: “He backed out of the bet yesterday and he said that legally he couldn’t do it for some reason.
“Now I think we are going to try and figure that out behind the scenes to help charity, but obviously I lost the bet.”
Hearn and Paul were cordial all week, striking up a nice rapport during the build-up to the fight.
