Conor McGregor loses another $1million dollar bet as Mike Tyson is defeated by Jake Paul

Conor McGregor continues to lose money betting on fights as he dropped another $1 million on Friday night.

The legendary two-weight UFC champion placed a big double knockout bet that would have likely netted him eight figures. It started with the Jake Paul vs. Mike Tyson fight last night, where he supported the boxing icon, and moved on to Jon Jones vs. Stipe Miocic at UFC 309.

And while it's unknown whether Jones will pull off the stoppage that would have won him the bet, McGregor has already shelled out the million. The Irishman watched as Paul dominated an elderly Tyson for eight rounds and saw his money go away.

Conor McGregor loses another bet as Jake Paul beats Mike Tyson

Before the first bell in Dallas on Friday night, Conor McGregor made his final public statement about who he was supporting in the fight. He has a long-standing Cold War feud with Paul, which, combined with the close friendship between him and Tyson, made his choice an obvious choice.

“My two fight bets this weekend,” McGregor wrote beneath a photo of he and Tyson from a trade conference this summer in a tweet that has already been deleted. “Tyson KO, Jones stoppage. A doubling of $1 million.”

He also complimented Tyson after a bizarre wardrobe malfunction was caught on camera, with his backside clearly visible on the Netflix broadcast. “A firm booty, nipples like cigars, knockout power,” McGregor added. Mike is truly God's creation! God bless Iron Mike!”

However, the result was not to be liked as Jake Paul went around Tyson for eight rounds and took a lopsided and boring decision win. It ended an intense build-up week, which even saw Tyson punch the 27-year-old.

Conor McGregor has already lost millions in recent months

This latest defeat was the latest in a series of heavy gambling losses for McGregor. He claims he's still in good shape all year after winning a few big bets, but he continues to lose huge amounts of money on outside picks.

He backed Renan Ferreira to defeat Francis Ngannou in their PFL match last month, and then at UFC 308 he bet against undefeated fighters in Ilia Topuria and Khamzat Chimaev against aging former champions Max Holloway and Robert Whittaker, with both fights ending in stoppages against his opponents. choices.

Now the Irishman faces another difficult defeat as Paul secured an eleventh professional victory. But if an earlier tweet is to be believed, he may still be profiting from his gambling.

Photo by Chris Unger/Zuffa LLC

“I won $7.7 million in gambling winnings this year,” he wrote. “Spain to win the Euro wins $1.1 million. [Nate] Diaz to win [against Jorge Masvidal]$1.6 profit. Argentina wins Copa America, winnings of $1 million. Spain, Carlos Alcarez, Argentina triple on the day of the games, a 100k bet gave me a $4 million profit.

“I lost golden shoe 63k in euros, I lost Ferreira last week 500k and tonight 500k. $1.63 million losses, $7.7 million wins. $6 million+ I am today as it stands now… Rocking it!

“Gambling is certainly risky. Responsible gambling. I play to win, that's why I take risks and play more often. Responsible gambling.”

Conor McGregor has a fascinating gambling philosophy

Despite regularly losing millions trying to fight, Conor McGregor insists he still 'gambles responsibly'. And he thinks betting on a big outsider gives you the opportunity to take more losses before ultimately winning big.

Photo by JORGE GUERRERO/AFP via Getty Images

“The point is, you can take the conventional odds on favorites to win,” he wrote after UFC 308. “And yes, they should win, and you get your baby paid and you're happy, but if I think that bet would have set me back $17 million+ is excellent.

“If you look at the odds from a perspective like this, at 500k to come back 17m on just two fight predictions, it's doable, you have 32 times to place the bet and still be happy! 32 shots behind the wheel for that payout. Food for thought, my gambling enthusiasts. 34 shots actually.”

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