Jake Paul and heavyweight legend Mike Tyson are betting $1 million but not against each other in the ring.

Instead, the two stars will wager $1 million on the upcoming fight between Katie Taylor and Amanda Serrano III.

Paul vs. Tyson: Friendly Wager, Big Stakes

Paul, co-promoter of Serrano by Most Valuable Promotions, dared Tyson to a high-stakes bet before this Friday's Netflix-broadcast fight at Madison Square Garden, TMZ Sports finds.

During a FaceTime conversation, Paul laughingly confessed that fans were referring to Taylor-Serrano as "a better fight" than his last bout with Tyson, so the notion for a lighthearted wager was born.

Katie Taylor vs. Amanda Serrano III is a Trilogy for the Ages

The Taylor vs. Serrano rivalry is already one of the greatest trilogies in women's boxing history. Taylor, the Irish phenomenon, outpointed Serrano by two thrilling victories. Now, as they look to meet for a third time, fans are again anticipating fireworks.

Even with Taylor's past victories, Paul is going all in on Serrano. Mike Tyson, who loves the former's determination and poise, wasn't afraid to put his money behind her once again.

The two legends agreed on a $1 million bet but added a lighthearted twist: the loser must buy dinner for the winner.

Netflix Fight Night with Celebrity Twist

The rematch will be streamed live on Netflix, another live sports broadcaster that continues to grow. With Paul and Tyson attached, the spotlight surrounding the event just brightened up further.

The $1 million wager is just icing on the cake for the hype surrounding the much-anticipated main event.

In other news, Roy Jones Jr. told Ring Magazine that Jake Paul won't be a champion. Jones Jr. believes that the YouTuber won't get past "experienced and tough opponents" in boxing. At the end of the day, people need to look at Jake as a professional boxer the moment he said that he will not be an influencer boxer anymore.