Hollywood producer Jon Peters, whose work includes A Star is Born and Batman, is reportedly preparing to place one of the largest known wagers on a celebrity boxer, betting $5 million on Jake Paul to defeat the former heavyweight champion Anthony Joshua in Miami on Dec. 19, according to TMZ.
Key Takeaways
- Jon Peters will reportedly wager $5 million on Jake Paul.
- Paul fights former world heavyweight champion Anthony Joshua on Dec. 19.
- Joshua is the overwhelming favorite for the Netflix-streamed fight.
The bet reportedly follows a private discussion between Peters and Paul, who has a 12–1 record as a professional boxer.
Paul enters the bout as a major underdog, with the 36-year-old Joshua a heavy favorite according to current odds.
If Paul pulls off the upset, Peters could win up to $40 million, depending on the exact odds at the time of the wager.
However, Peters’ bet has been met with skepticism from observers who argue the size of the wager is disproportionate to Paul’s experience level.
The fight itself emerged after Paul’s previously scheduled November bout with WBA lightweight champion Gervonta Davis collapsed due to Davis’ ongoing legal issues.
Paul criticized Davis sharply following the cancellation, accusing him of chronic unprofessionalism. However, shortly after, it was confirmed that Paul would fight Joshua instead, with the bout streaming live on Netflix.
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State betting restrictions revisited after Tyson-Paul event
The upcoming Jake Paul vs. Anthony Joshua fight is unfolding against the backdrop of continued regulatory caution in several states, fueled partly by Jake Paul’s high-profile bout with Mike Tyson in November 2024, which Paul won on points.
That bout triggered a wave of wagering bans across the U.S. At least six states that accept sports betting, New York, Colorado, Kentucky, Louisiana, Pennsylvania, and Vermont, refused to allow betting on the fight.
Regulators cited modified bout conditions, including two-minute rounds and 14-ounce gloves, as justification for excluding the bout from approved wagering sites. Despite the fight being sanctioned by Texas authorities, several states argued that the format fell outside professional boxing standards.
Officials from New York and Pennsylvania said the Tyson fight resembled an exhibition rather than a fully professional match, noting that events involving non-professional athletes or unconventional rules typically fall outside what state commissions approve. Colorado regulators cited failure to meet requirements, including unified rules on glove weight and round length.
Those decisions had ripple effects. Sportsbooks reported reduced customer engagement in states where betting was prohibited, with DraftKings’ sportsbook operations director Johnny Avello noting that viewership likely suffered without wagering availability.
That regulatory stance has persisted into 2025, with several states expected to review any Jake Paul-related event more carefully. The controversy over last year’s fight continues to shape how states evaluate celebrity boxing contests heading into the Joshua bout.
