Are promoters allowed to bet?

talksport.com - Eddie Hearn and Jake Paul forced to cancel $1million bet on Katie Taylor ...

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Eddie Hearn has revealed he and fellow Jake Paul have been forced to cancel their $1million bet on the outcome of the Katie Taylor vs Amanda Serrano fight as promoters legally are not allowed to bet on their own fights. At the press conference on Thursday, the American YouTuber-turned-promoter challenged his British co-promotional partner and the stakes ended up being raised to a seven-figure wager ahead of Saturday night’s epic. Ed Mulholland/Matchroom 2 Hearn and Paul have now agreed a new bet, with no money at stake However, the pair have since been informed that they are legally not allowed to go through with this. As a result, they have now come up with a new alternative which could get very interesting indeed. Hearn told the DAZN Boxing Show on Saturday, prior to fight night: “Unfortunately we kind of got our collar felt a little bit in the respect of – promoters can’t bet on their own fight and that’s not a great look. “So myself and Jake have been coming up with an alternative which is gonna make you laugh a lot.

“I’ll give you the details maybe later before the fight.

“It probably involves me getting knocked out, but that’s only if Katie loses.

Ed Mulholland/Matchroom 2 Hearn promotes Taylor, while Paul promotes Serrano

“If not, it’s gonna involve Jake Paul getting knocked out.

“It’s gonna be for charity. All the details are gonna be [revealed].

“We had a conversation after and got told, ‘Legally you can’t really bet on the fight as a promoter.’

“And we were like, ‘Okay.’

“But we’ve got something that’s much bigger that we’re working on.

“If Katie loses tonight I’ll be in the gym. And if she wins I’ll be on the phone to several people. All will be revealed.” In the end Taylor won a fight that has gone down as one of the best in the arena’s history and now we are all watching this space.

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