Diddy bets Mark Wahlberg $250,000 that Mayweather will beat Pacquiao

Two boxers face off on May 2

Diddy is backing boxer Floyd Mayweather to maintain his undefeated record against Manny Pacquiao in their long-awaited bout next weekend, and so confident is the rapper, producer and all-round entrepreneur that’s he’s placed a $250,000 bet with actor Mark Wahlberg that the man they called ‘Money’ will come out on top.

The pair announced the wager via a video posted to Diddy’s Instagram account. Sitting by a swimming pool, the ‘Bad Boy For Life’ performer initially proposes a $100,000 bet, to which Wahlberg responds, “Why so little?”. And so the ante is upped to $250,000. Click below to watch.

Indulging in large-scale flutters and posting about it on Instagram isn’t new to Diddy. In September 2013 he took to the social network to reveal he’d lost $1million to Rick Ross in a dice game. Still, the mogul – real name Sean Combs – appeared less-than-devastated by the result, captioning the clip: “I just lost a million dollars. It ain’t nothin. #SuckMyDickBitch.”

The video saw Diddy swigging from a bottle of Ciroc vodka – his own brand, no less — before announcing to the camera his next roll will be for “double or nothing”. It proved to be a losing roll, and he settled up the bet by handing Ross over an untidily scrawled “I owe you” note.

Recent reports have claimed that Diddy will serve as an Executive Producer on the forthcoming US animated series Brightmoor through the film division of his digital cable television network, Revolt Films.

Due to air on the FX network, Brightmoor has been developed by King Of The Hill creator Chip Hall and comedian Chris Powell, aka Comedian CP, and will follow a group of African-American students who attend Brightmoor Elementary School.

Mayweather takes on Pacquiao in Las Vegas this Saturday (May 2). The contest is expected to be highest grossing boxing match ever.