And while it is unknown whether or not Jones will land the stoppage that would have won him the bet, McGregor is already out the million. The Irishman watched on as Paul dominated an aged Tyson for eight rounds, and saw his money pour away.

Conor McGregor loses another bet as Jake Paul defeats Mike Tyson

Prior to the first bell in Dallas on Friday night, Conor McGregor made his latest public declaration of who he was backing in the fight. He has a long-standing cold war feud with Paul, which coupled with he and Tyson’s close friendship made his choice an obvious one.

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

He also complimented Tyson after a bizarre wardrobe malfunction was caught on camera in which his rear could be clearly seen on the Netflix broadcast. “A solid buttock, nipples like cigars, knockout power,” McGregor added. Mike is truly God’s creation! God bless Iron Mike!”

However, the result did not go his way as Jake Paul moved Tyson around for eight rounds and picked up a lopsided and boring decision win. It brought an end to an intense week of build-up, in which Tyson had even slapped the 27-year-old.

Conor McGregor has already lost millions in recent months

This latest defeat was the latest in a string of bad gambling losses for McGregor. He claims to still be up overall for the year after winning a few major bets, but he continues to lose massive amounts in outside picks.

He backed Renan Ferreira to beat Francis Ngannou in their PFL clash 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 choices.

Now, the Irishman faces another difficult loss as Paul picked up an eleventh professional victory. But if a previous tweet is to be believed, he may be still in profit from his gambling.

“I won $7.7million in gambling profits this year,” he wrote. “Spain to win the euros, $1.1m win. [Nate] Diaz to win [against Jorge Masvidal], $1.6 win. Argentina to win copa America, $1m win. Spain, Carlos Alcarez, Argentina treble on the day of the games, 100k bet won me $4mill win.

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

“Gambling is for sure risky. Gamble responsibly. I am playing on profits which is why I am taking risks, as well as playing more frequently. Gamble responsibly.”

Conor McGregor has a fascinating gambling philosophy

Despite regularly losing millions in his efforts at fight picks, Conor McGregor insists that he is still ‘gambling responsibly’. And he reckons that betting on a major outsider allows you the option take more losses before eventually winning big.

“Here’s the thing, you can take the conventional odds on favourites to win,” he wrote after UFC 308. “And yes they should win, and you get your baby pay out and be happy, but to think that bet would have returned me $17m+ is outstanding.

“If you look at the odds from a point of view like this, at 500k to return 17m off of just two fight predictions, well doable, you have 32 times to hit the bet and still be happy! 32 shots at the wheel for that payout. Food for thought, my gambling aficionados. 34 shots actually.”

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