Paul Gallen vows to wear nothing but Phil Gould's underwear for eight hours if the Cowboys win the NRL premiership

Paul Gallen is pretty confident that the North Queensland Cowboys won't win a premiership this season.

In fact, the rugby league hard man is so confident of this that he has made a truly crazy bet on live television.

"If the Cowboys win the comp, I will pay for my own flights and then wear your [Gould's] undies for eight hours," Gallen said while appearing on Channel Nine's 100% Footy.

"I won't eat them, but I do back my bets up and pay them."

His outlandish wager earned a couple of laughs from his fellow panellists.

Even Gus himself couldn't help but have a giggle.

Supplied/NRL

With Todd Payten at the helm, North Queensland have been playing some sensational footy this season and currently sit in second place on the NRL ladder behind the Penrith Panthers.

But despite their consistent form, former premiership-winning captain Gallen hasn't always been a big fan of the Cowboys' work.

"I can't see them doing anything. I'm happy they started well because my mate Chad Townsend is up there playing well, I think he's doing good things at the moment, but I can't see them anywhere near the top eight," he said following their fast start to the campaign.

"They've had a brilliant start to the year. They've played the Bulldogs, Canberra and the Broncos in the first three rounds of the competition and won two... they're not going to be top eight."

He added: "They're better than last year, but they've got to make the top eight. Unless you make the top eight, you haven't had a good season.

"I think the way they're going at the moment, there are probably a few people impressed with them and liking what they're doing, but I don't think they get anywhere near the top eight."