Obama attended a fundraiser on Monday night for the Nevada Democratic Party at the home of Las Vegas Sun owner Brian Greenspun.
Politico reported the president's opening remarks at the event were recalling a trip to Nevada last November when he golfed with Greenspun and Jeter.
"He and Derek Jeter stole money from me at Shadow Creek," Obama said, referring to a golf course in North Las Vegas. "It was clearly a set up, because when we got to the practice range, he was shanking balls everywhere. I said, 'You play golf, Derek?' And he said, 'I just started two weeks ago.'"
Obama said they gave Jeter 30 strokes. Obama then said how quickly he realized that was a mistake -- the first hole.
"We had to take a picture of me handing Derek Jeter money at the end of the game," Obama said. "Despite that, Brian is a great friend."