Jake Paul confirms if Katie Taylor will lose prize pot after betting against him

issued an update on his bet with Katie Taylor after the YouTuber had wagered his entire purse ahead of his fight with Mike Tyson.

, with the 27-year-old pocketing a reported £33million ($40million) from the fight held in Texas.

Had he been defeated, there was a chance Paul wouldn't have seen a penny from his takings.

That's because Paul and Taylor shook hands on a bet the former would win his fight against Tyson, with the entire £30m purse on the line.

But in the wake of his win against Tyson, Paul has confirmed that he won't be chasing up debts owed by Taylor.

Commenting after the fight, Paul said: "We never made it official, I think it was all in light of entertainment and trying to make something fun, selling fights."

That's despite claiming before the bout he would be getting contracts sent out to the doubters he shook hands with, including Taylor.

The boxers on the fight's undercard were quizzed at the press conference on who they believed would win, with plenty backing Iron Mike.

Paul didn't take well to it, responding: "When I see dumb people saying dumb predictions, I just feel bad for them.

"Who wants to bet on it? Does anyone want to bet on it? Does anyone want to bet on it? I'm shaking hands. So how much do we want to bet on this?"

He eventually got around to Taylor, saying: "I forgot Katie Taylor back here. As much as you've got, I'm not losing."

Pondering the offer, Taylor replied: "Well, do you want to bet your purse?"

The deal was sealed with a handshake before Paul finished off with: "I'm sending out contracts too."

Aside from what could've been a costly bet, Taylor enjoyed a successful night of her own, with the 38-year-old retaining her super lightweight belt with a narrow win over Amanda Serrano.

Not only did Taylor have to overcome the ferocious Serrano, but she also had the crowd against her, with the Texas faithful choosing to root for the Puerto Rico ace.

Taylor won 95-94 on all three scorecards, a decision Serrano wasn't best pleased with.

Speaking after the fight, she said: "I knew it if went to the judges it was going to be a little shady. I chose to be great.

"I went up three divisions. It is what it is. I'm a featherweight, man. She kept headbutting me. It's what she does. It's not just my fight, it's all her fights."