Jake Paul and Mike Tyson agree huge $1million bet on Katie Taylor vs Amanda Serrano

Jake Paul and Mike Tyson have placed themselves in opposite corners once again after betting on the winner out of Katie Taylor vs Amanda Serrano 3.

Paul and Tyson famously battled in a record-breaking - but farcical clash - last November, which saw the former defeat the aged heavyweight icon.

Their opposition has blossomed into a surprise friendship, and the pair took time out to discuss the latest boxing event to be broadcast on Netflix.

And while the two aren’t getting back in the ring, they are still competing with each other.

Paul is co-promoting the event which sees female stars Taylor and Serrano trade blows once again in their upcoming bout on Friday in Madison Square Garden.

In a video shared on Instagram, Paul FaceTimed Tyson, where he offered the boxing legend a $1million wager on the result.

If Taylor wins for a third time against Serrano, he would give Tyson $1m, while if the Irish star was defeat, Paul would receive $1m from his ex-rival.

And Tyson was more than happy to agree to the bet.

The Youtuber-turned-boxer began their video call by saying to Tyson: “A lot of people are saying that Amanda Serrano and Katie Taylor’s fight was better than ours.

“They’re fighting again this weekend."

When the first Serrano-Taylor fight took place at Madison Square Garden in New York City, it sparked a major female boxing rivalry.

As Paul began to outline the bet on offer, the 59-year-old interjected to say: “I’ve got Katie.”

To which ‘The Problem Child’ responded: “I’ve got Amanda, do you wanna bet?”

After Tyson stated he was on board, Paul then remarked: "Alright, we’ll make a bet! If Katie wins then you get $1million, if Amanda wins then I get $1million.

‘Iron’ Mike took the opportunity to introduce his own stipulation to their bet.

He told Paul: “I like that! Then you’ve got to take me out to dinner too.”

Of course Paul doubled down, offering his previous opponent a dinner date as well as the $1million if he beats him this time out.

He said: “Alright, I’ll take you out for dinner. I’ll take you on a date.”

The initial contest between Serrano and Taylor ended with the latter crowned the winner via a split decision as both fighters took home the first seven-figure paydays in women’s boxing history.

While the rematch between the female foes served as the co-main event when Tyson and Paul went head-to-head in Texas, Taylor once again took home the win this time by unanimous decision.

On that night, Paul defeated Tyson via unanimous decision in a dull eight-round heavyweight match.

Taylor is currently two wins up against Serrano, as the hotly anticipate third bout is set to round off their trilogy.

Especially for Paul and Tyson with their bet purse dependant on who wins the trilogy encounter - Serrano or Taylor.