NEW YORK (AP) — New York Mayor Michael Bloomberg says he and President Barack Obama lost a bet while playing golf last week, costing them both a bit of money.

Obama invited the billionaire mayor to play golf with him on Martha’s Vineyard last Friday. The president had been vacationing there.

The foursome at the Vineyard Golf Club also included White House trip director Marvin Nicholson and Washington powerbroker Vernon Jordan.

Bloomberg said Tuesday that the foursome had a friendly wager and that he and Obama lost. He did not say what the wager was or how much was bet. He insisted it was not a “substantive amount of money.”

Bloomberg has a fortune estimated at $18 billion.

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