- Drake’s recent $1 million Bitcoin loss highlights celebrities’ growing involvement in risky crypto bets, blurring the lines between fame and financial ventures.
- Drake’s betting with Bitcoin on the Edmonton Oilers and Dallas Mavericks underscores his high-stakes approach to sports gambling and digital currency.
- The intersection of Drake’s music career, modeling, and cryptocurrency betting exemplifies his high-risk financial behavior.
Drake can boast sports bets on the Edmonton Oilers in the NHL finals and the Dallas Mavericks in the NBA finals resulting in the loss of a potential $1 million of Bitcoins. His betting demonstrates the Geldspielweise that celebrities are increasingly venturing into cryptocurrency and engaging in risky bets. Still, both ways, Drake’s gambling records intermingled the fame of the musician with the trends of cryptocurrencies.
Canadian hip-hop artist Drake is a casual user who is facing the possibility of losing up to $1 million in Bitcoin due to betting on the NHL and NBA finals. The bets of $500,000 each were made to be placed on the Edmonton Oilers and the Dallas Mavericks to win the Stanley Cup and NBA finals correspondingly, according to the report by CoinDesk.
The Oilers from Edmonton have provided a poor performance in the hockey championship as they have been defeated for the third time by the Florida Panthers. Likely, the Dallas Mavericks are also stood before quite a problem they are losing 3-0 in the NBA finals with the Boston Celtics. Both series are seven-game affairs, in which the better performer in the first round is defined as the team or player who wins more individual ratings.
It was Drake who shared detailed information revealing that he used the crypto casino Stake to place the bets, with Bitcoin as the medium of exchange. It might be due to his association with Stake – an online gambling company with a Bitcoin-based betting platform – that he posted the betting slips on the photo-sharing app.
If the Edmonton Oilers and the Dallas Mavericks were to have won their series, Drake could have made one million US dollars. However, the odds are against both teams, especially as no NBA team has ever come back to win a series in the playoffs or, finals after trailing 3-0.
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Drake has been involved in handling big wins and losses in the past with sports betting and cryptocurrencies. In February 2023, he played and won a million U.S. dollars. to approximately 2 million U.S. dollars with rolled-over bets on Kansas City Chiefs in every Super Bowl. On the one hand, he invested $400,000 in Bitcoin for the YouTuber Jake Paul to win the boxing match against Tommy Fury only to lose. The bets have been recently wagered by the musician, which coincides with the statements made by him about cryptocurrency. He was the one who earlier this year agreed with MicroStrategy CEO, Michael Saylor, on the idea of investing in the BTC and holding its value.
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