Canadian rapper and singer Drake recently lost $400,000 in Bitcoin after betting on YouTuber-turned-boxer Jake Paul to beat Tommy Fury by knockout.
The fight took place on February 26, 2023, in Diriyah, Saudi Arabia, and Fury won in a split-decision victory, despite Paul knocking Fury down in the eighth round. Drake placed the bet on the crypto betting platform Stake and shared a screenshot of the bet on Instagram. If Paul had won the fight, Drake could have cashed in $1.44 million in Bitcoin.
Drake is known for making sports bets, and this is not the first time he has lost a significant amount of money. He lost $275,000 in Bitcoin when he bet on mixed martial artist Jorge Masvidal’s fight and lost $234,000 in Bitcoin when Charles Leclerc did not win Spain’s Grand Prix. Drake also bet $472,000 in Bitcoin that the LA Rams would win against the Bengals in the Super Bowl and won $240,000 from the wager.
Due to Drake’s history of backing losing candidates, an ongoing online joke called the ‘Drake Curse’ has emerged. The joke claims that if Drake backs a person, they are likely to lose. Following the fight, Paul joked about Drake’s bet, saying, “This is Drake’s fault! Drake, bro, why did you do this to me? No, it’s my fault. $400,000 is nothing to him – he has won a lot more money betting on me before. He’s probably about even now. Sorry, Drake, I’ll get that win in the rematch.”
Drake’s love for betting on sports and events is no secret, and the rapper enjoys taking risks with his money. While his recent loss of $400,000 in Bitcoin may not significantly affect his wealth, it highlights the importance of responsible gambling and the risks involved in betting.