The $100 million boxing match between Mike Tyson and Jake Paul is finally set to take place on November 15 after facing ridicule and delays. However, the Massachusetts Gaming Commission (MGA) had to navigate through a conundrum regarding allowing betting markets on the event.
The first boxing event ever streamed by Netflix had the MGA seeking advice from other state regulators on whether to allow bets on the exhibition match between Tyson and Paul at AT&T Stadium in Arlington, Texas. After extensive research and consulting with other jurisdictions, the MGA ultimately recommended approving wagering on the event.
The event is sanctioned by the Texas Department of Licensing and Regulation, an Association of Boxing Commissions member. Despite Massachusetts gaming laws allowing betting on Association of Boxing Commissions matches, there were concerns raised due to the 31-year age gap between the fighters. However, after considering the risk of pushing people towards illegal markets, the MGA decided to sanction betting on the fight.
Concerns about black market activity and betting-related corruption were also raised, but integrity monitoring agencies deemed the likelihood of such corruption to be low due to the significant public interest and high purses for both fighters. The MGA also took into account rule changes made to ensure the safety of the bout, such as the use of 14-ounce gloves instead of 10-ounce gloves and shorter rounds.
Jake Paul, the co-founder of Betr, is currently the favorite to win the match at -250 according to BetMGM. The fight, initially scheduled for July, was postponed due to health issues faced by Tyson. Despite being dubbed as the “100 million dollar fight nobody wants,” the event has generated significant public interest and is expected to draw a large audience.
Overall, after careful consideration and consultation with other regulators, the MGA has sanctioned betting on the highly anticipated boxing match between Mike Tyson and Jake Paul. Despite initial concerns about the legality and integrity of the event, the decision was made to allow wagering on the fight, taking into account safety measures and expert opinions on the likelihood of corruption. The match is expected to be a major event in the world of boxing, drawing in a large audience and generating significant betting interest.