TLDR
- In a dramatic turn of events, Drake has ended up losing over $1 million in Bitcoin after betting on the recent NBA and NHL championship games.
- He put $500,000 in Bitcoin on the line, backing the Dallas Mavericks to conquer the NBA finals, and another $500,000 on the Edmonton Oilers during the Stanley Cup battle.
- These downsizing financial hits have rekindled chatter about the infamous 'Drake Curse,' sparking tales of how teams and athletes often underperform following Drake’s endorsement.
- The renowned artist is intricately tied to Stake, a high-profile cryptocurrency casino and sports betting arena where he holds a stake along with owning a piece of the action.
In a dazzling showcase of his digital bankroll, Drake bet over $1 million in Bitcoin. Known for topping music charts and pushing gambling boundaries, the Canadian megastar recently faced successive defeats on the sports betting front, highlighting the expanding realm of crypto sports betting.
Drake plunged headfirst into a $500,000 Bitcoin bet, backing the Dallas Mavericks in hopes of claiming the NBA Finals. Sadly, his hopes were dashed when the Mavericks bowed out in a five-game series to the Boston Celtics, lightening his digital pockets considerably.
Undaunted, Drake doubled his financial risk by placing another $500,000 Bitcoin wager, this time on the Edmonton Oilers for the NHL’s Stanley Cup showdown. His unfortunate streak continued as the Florida Panthers clinched their first-ever championship victory in Game 7, solidifying Drake’s million-dollar disappointment.
True to his bold persona, Drake was unapologetically public about his sky-high wagers.
He flaunted his betting stubs on Instagram, captioning them, “Dallas because I've got Texan love. Oilers, well that speaks for itself. My picks? Locked in at @stake.”
This reference to Stake , a popular cryptocurrency casino and sports betting platform It's not coincidence. Drake has a well-documented history with Stake since 2020, ultimately stepping into a co-ownership role with the company.
These spectacular losses have rekindled the age-old conversations about the notorious ‘Drake Curse,’ a legendary streak where teams and athletes are believed to crumble under Drake’s spotlight.
This recurring streak of bad luck has put a spotlight on Drake’s betting choices, sparking curiosity about his knack for predictions in the tumultuous seas of sports outcomes.
It’s important to view this $1 million blunder through the lens of Drake’s wealth. For the average person, such a sum would be life-altering, but for Drake, it’s merely a blip on the radar.
With a net worth knocking on $250 million, the artist can afford to play in the high-stakes leagues. Nevertheless, his escapades shine a glaring spotlight on the crypto gambling arena, possibly steering the public’s perception and his colossal following.
Drake’s pursuit of cryptocurrency-driven sports betting is symptomatic of a much broader trend.
In recent annals, crypto gambling has seen a meteoric rise in appeal, with a host of Bitcoin casinos and various betting platforms are jostling to snatch a portion of this lucrative affair.
This upsurge in interest stretches beyond sports wagers. Platforms like Polymarket, which dabble in political bets, have also seen swelling engagement especially during pivotal events like the 2024 U.S. presidential race.
Polymarket, providing a stage for users to stake cryptocurrency-anchored bets, has racked up millions in trade volumes for markets like ‘Who will win the 2024 U.S. presidential election?’
The platform draws accolades for leveraging the 'wisdom of the crowds,’ though it faces scrutiny for lacking stringent oversight.
Undeterred by the buzz, industry enthusiasm remains robust, evidenced by Polymarket’s recent $70 million capital haul led by Ethereum pioneer Vitalik Buterin and Peter Thiel’s Founders Fund.
