Drake, the world famous rapper who represents luxury and loves to risk big money recently got a tough lesson. Using social media, particularly Instagram, Drake has been very vocal about his flamboyant lifestyle and the latest of them was placing a big Bitcoin on NBA Finals through Stake, the platform with which he has partnership with. However, as fate would have it, this bet did not pan out in his favor, something that saw him lose half a million dollars worth of Bitcoin.
Drake’s Big $500,000 BTC Loss
Drake placed the bet on the Dallas Mavericks, a gamble that could have netted him an impressive $1.375 million if the Texas team had been successful. Drake’s confidence was evident in an Instagram post, where he wrote, “Dallas cause I’m a Texan,” showing his support for the Mavericks. However, his hopes were shattered when the Boston Celtics won the championship title with a decisive 106-88 victory in Game 5, leaving Drake with a loss he won’t soon forget.
But the rapper’s gambling woes might not end there. In the same Instagram post, Drake revealed that he also placed a $500,000 bet on the Edmonton Oilers to win the NHL’s Stanley Cup Finals. This bet, if successful, would bring him a return of roughly $1.025 million. “Oilers are self-explanatory,” the Canadian artist commented, banking on his home country’s team to bring him luck.
Could Drake’s NHL Bet Recoup his Big Loss?
The Oilers have been tracking well in their fight to get their first cup championship since 1990 as they enter the finals against the Panthers today (24 June, 2024). They recently defeated the Kings 4-1, Canucks 4-3 and Rangers 4-2. Both the Mavericks and Oilers started their respective series with 3-0 deficits, and while the Mavericks couldn’t turn their fate around, Drake is holding out hope that the Oilers can push for the win. If they manage to pull it off, it would not only be a momentous occasion for the team but also potentially save Drake from another substantial financial hit.
Adding Fuel to the Fire
Meanwhile, the drama in Drake’s life isn’t confined to the sports world. Recently, Twitter co-founder and Bitcoin advocate Jack Dorsey has publicly backed Kendrick Lamar in his ongoing and intensifying lyrical feud with Drake. The tension between the two rap titans escalated last week when both artists began trading diss tracks online, reigniting a long-simmering rivalry. Dorsey, a vocal supporter of Lamar, has made his stance clear by repeatedly posting in favor of Lamar. “Truth vs lies,” Dorsey tweeted, aligning himself with Lamar’s camp and adding fuel to the fiery clash.
Drake is Still on Top
Despite these setbacks, Drake remains one of the most influential and financially successful musicians globally. As an official partner of Stake, his affiliation with the Crypto betting platform suggests a lucrative partnership that likely cushions the blow of his recent losses. However, losing $500,000 – or potentially even $1 million – in Bitcoin bets is a stark reminder that even the wealthiest people can feel the sting of a bad gamble. These high-stake bets underscore the unpredictable nature of both sports and cryptocurrency markets, where fortunes can shift dramatically in an instant.
Conclusion
For now, all eyes are on his NHL bet to see if the Edmonton Oilers can come out on top against the Panthers. Whether they succeed or not, Drake’s adventures in high-stakes betting continue to captivate his fans and followers, offering a glimpse into the thrilling, and risky, world of crypto celebrity gambling.
Stake.com
Drake $500,000 loss at Stake.com