Jake Paul might not earn a single penny from Mike Tyson fight in shock new development

Without hesitation, Paul accepted Taylor's dare to bet his full purse on the outcome, sealing the high-stakes agreement with a handshake that could see him risk his entire payday from the bout.

The tension at the press conference escalated when undercard fighters were asked to predict the winner of the main event, with most backing Tyson.

Paul, visibly frustrated, stood up to confront those favouring 'Iron Mike', including Taylor, who will face Amanda Serrano on Friday's co-main event.

"How much do you want to bet?" Paul challenged Taylor.

Taylor responded: "Do you want to bet your purse?"

"Yeah, let's bet the purse. Deal," Paul immediately replied, leading to their stunning handshake agreement.

The stakes for Friday's Netflix-streamed bout are astronomical, with Paul set to earn $40m (£31m) in what would be the biggest payday of his boxing career.

The bet could also see Paul walk away Friday night without earning a single penny if he loses to Tyson.

The financial gamble has added an extra layer of drama to what was already a highly anticipated matchup.

Tyson maintained his composure throughout most of Wednesday's press conference, though his demeanour shifted when questioned about potential defeat.

"I will not lose," the former heavyweight champion declared firmly when one reporter raised the possibility.

The 58-year-old boxing legend appeared particularly irritated by suggestions of defeat, showing glimpses of his renowned intensity.

Despite the heated atmosphere surrounding Paul's bold bet, Tyson remained largely calm and focused, suggesting he's taking the challenge seriously ahead of Friday's showdown.

Paul enters the contest as the bookmakers' favourite, with the 31-year age gap expected to play a crucial role in the outcome.

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Many observers believe the younger Paul will prove too fresh for Tyson, who hasn't competed professionally in almost two decades.

However, Tyson remains determined to shock the world with a vintage performance on Friday night.

The former heavyweight champion's last professional bout was in 2005, but he's adamant he can turn back the clock against his significantly younger opponent.