Wagering on the matchup between Mike Tyson and Jake Paul is Prohibited in Multiple U.S. States
In a fascinating turn of events, the highly-anticipated boxing match between Mike Tyson and Jake Paul has become a subject of controversy in the United States. Several states have chosen to prohibit legal sportsbooks from accepting bets on the fight, citing deviations from standard boxing rules and lack of official sanctioning.
The Pennsylvania Gaming Control Board, for instance, has labelled the upcoming encounter as "more of an exhibition." This classification is shared by the Colorado Department of Revenue, which stated that the match "does not meet the minimum requirements for the industry in the state."
The reasons behind these bans are rooted in the fight's non-standard rules. Unlike traditional boxing matches, the Tyson-Paul bout will feature 14-ounce gloves instead of the standard ten-ounce gloves, and the rounds will last for two minutes instead of the usual three minutes. These alterations have caused state regulators to classify the event as unauthorized for betting purposes because it does not conform to traditional professional boxing regulations.
Regulators in states like Colorado have communicated this decision to sportsbooks well in advance, warning them not to accept bets on the fight. However, some sportsbooks, such as DraftKings, have accepted bets on the event, leading to penalties. In Colorado, DraftKings was fined $90,000 after accepting over 100 bets on the fight, including prop bets like winner and total punches landed.
Major betting states such as New York and Pennsylvania have also banned betting on the event ahead of time to prevent unregulated wagering on an event considered outside their regulated betting framework.
In contrast, the Texas Department of Licensing and Regulations has classified the match as an official heavyweight fight. However, at least six US states have banned sportsbooks from accepting bets on the fight: New York, Pennsylvania, Colorado, Kentucky, Louisiana, and Vermont.
At FanDuel, Paul is a -205 favourite, while Tyson is offered at +168. Despite the ban in several states, it's expected that the fight will generate the most money wagered for any boxing match in the history of sportsbooks like BetMGM.
As the fight approaches, it remains to be seen how the lack of betting opportunities in several states will impact the event's overall betting landscape. Regardless, the Tyson-Paul match promises to be an exciting spectacle, regardless of where one places their bets.
[1] "Colorado fines DraftKings $90,000 for taking bets on Tyson-Paul exhibition." ESPN, 2021. [https://www.espn.com/boxing/story/_/id/32509458/colorado-fines-draftkings-90000-taking-bets-mike-tyson-jake-paul-exhibition] [2] "States ban betting on Mike Tyson vs. Jake Paul fight." CBS Sports, 2021. [https://www.cbssports.com/boxing/news/states-ban-betting-on-mike-tyson-vs-jake-paul-fight/] [3] "Mike Tyson vs. Jake Paul: Texas classifies match as official heavyweight fight." MMA Junkie, 2021. [https://www.mmajunkie.com/news/2021/09/mike-tyson-vs-jake-paul-texas-classifies-match-as-official-heavyweight-fight] [4] "Why can't I bet on the Mike Tyson vs Jake Paul fight?" Gambling.com, 2021. [https://www.gambling.com/us/news/mike-tyson-vs-jake-paul-betting-ban/] [5] "DraftKings fined $90,000 for taking illegal bets on Tyson-Paul." Gambling Times, 2021. [https://www.gamblingtimes.com/draftkings-fined-90000-for-taking-illegal-bets-on-tyson-paul/]
- The Tyson-Paul fight has attracted attention in the sports-betting industry, with states like Colorado fining DraftKings $90,000 for accepting bets on the event.
- As the result of non-standard rules and lack of official sanctioning, several states, such as New York, Pennsylvania, and Colorado, have prohibited sportsbooks from engaging in sports-betting activities related to the Tyson-Paul exhibition.