Eddie Hearn has revealed why he cannot accept a £1million bet proposed by Chris Eubank Jr ahead of the highly anticipated fight against Conor Benn.
The boxing promoter explained that British Boxing Board of Control regulations prevent him from taking the wager.
Eubank Jr had publicly challenged Hearn on social media, writing: "I accept your £1,000,000 bet on my fight against Conor Benn on April 26th. Put your money where your mouth is @EddieHearn."
The challenge came after Hearn had initially suggested a bet with Eubank's promoter, Ben Shalom, on whose fighter would emerge victorious.
Boxing news: Eddie Hearn has revealed why he cannot accept a £1million bet proposed by Chris Eubank Jr ahead of the highly anticipated fight against Conor Benn
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Speaking to IFL TV, Hearn explained the specific regulation that prevents him from accepting the bet.
"We all received an email from the Board recently, stating regulation 30, which is that any member, ie licence holder, cannot bet, advise anyone else to bet, permit to bet, on any event that they have any involvement with," Hearn said.
The promoter added that accepting such a wager would put his professional licence at risk.
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Eddie Hearn says he'd never bet with Chris Eubank Jr as the boxing star's fight with Conor Benn edges closer
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"Unfortunately, I will lose my licence, and that's probably what they want me to do, comment on it and say, 'Yeah, I'll take the bet', then I get called and fined £100,000," he explained.
Hearn suggested Eubank Jr was fully aware of these regulations when making the public challenge.
"Unfortunately, anyone smart enough knows what he's up to," Hearn said.
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"So this lot, for clicks and views and clout, have decided to put a video out where they know I can't accept it.
"And the bet wasn't even with Chris Eubank Jr, it was with Benjamin Shalom.
"I would never have a bet with Chris Eubank Jr, ever, because there is a reason for that, and I only bet with certain people."
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The fight is set to take place on April 26 at Tottenham Hotspur Stadium in front of more than 70,000 fans.
The bout has been described as one of the biggest in British boxing history.
It comes three years after the pair were originally scheduled to fight, before Benn was suspended over an alleged use of a prohibited substance.
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PAA panel later ruled it was "not comfortably satisfied" that Benn had committed the offence, which he has consistently denied.
The rivalry has intensified in recent months, with Eubank Jr slapping an egg across Benn's face during a press conference in London.
The fight includes a rematch clause, leaving open the possibility of a second bout between the rivals.
