U.S. President Barack Obama (R) hands a bottle of Prime Minister David Cameron's "Hob Goblin" beer to U.S. Treasury Secretary Tim Geithner as Cameron (L) looks at the label of Obama's "Goose Island 312" beer after the two leaders exchanged beers as part of a World Cup Soccer bet, at the end of their bilateral meeting at the G20 Summit in Toronto June 26, 2010. REUTERS/Jason Reed

TORONTO (Reuters) - U.S. President Barack Obama and Prime Minister David Cameron exchanged beers on Saturday to honour their bet over the England-U.S. World Cup soccer match that ended in a draw.

“This is Goose Island 312 beer from my hometown of Chicago. ...I advised him that in America we drink our beer cold,” Obama said after a meeting with Britain’s new prime minister at a Group of 20 summit in Toronto.

Cameron reciprocated with a brew local to his Witney constituency called Hobgoblin.

Obama had earlier given Cameron a ride to Toronto in his Marine One helicopter from the Group of Eight summit in a resort north of Toronto, and apparently suggested his passenger pay his own way.

“Thank you also for the lift between the two. It was -- he threatened to send me a bill, but as I said, times are very tight in the UK, so I’m afraid we’ll have to take it as a free lift,” Cameron said.

Earlier this year, Obama shipped a case of American beer to Canadian Prime Minister Stephen Harper after losing a bet over the men’s Olympic hockey final in which Canada beat the United States.