Breaking:”Drake’s Losses $500,000 Bitcoin Bet on Mavericks in NBA Finals…Read more
“Drake’s High-Stakes Crypto Betting: Wins, Losses, and Celebrity Trends”
On June 6, amid the excitement of the NBA Finals, Drake took to Instagram to share a screenshot of his significant Bitcoin bet on the Mavericks, which could have earned him $1.37 million.
Unfortunately for Drake, the 2024 NBA Finals did not go in his favor. The Boston Celtics clinched their 18th championship by defeating the Mavericks 4-1 in the series. In the decisive Game 5, the Celtics won 106-88 on their home court, surpassing the Lakers for the most titles in NBA history.
In addition to his NBA wager, Drake disclosed another bet: $500,000 on the Edmonton Oilers to win the Stanley Cup. The final game on June 22 will determine whether Drake’s losses double to $1 million or if he recoups his losses with a potential $1.025 million win. Drake captioned his Instagram post with, “Dallas cause I’m a Texan. Oilers are self explanatory.”
Drake is known for his high-stakes betting, both winning big and losing significantly. As an official partner of the betting platform Stake, he’s experienced dramatic swings in fortune. In 2022, he lost over $230,000 in Bitcoin betting on Formula One driver Charles Leclerc at the Spanish Grand Prix and more than $200,000 on Jorge Masvidal in a UFC fight against Colby Covington. However, he also scored over $2 million in winnings from NFL Finals bets in 2022. These events underscore the unpredictable nature of high-stakes gambling, especially with cryptocurrency.
Drake’s betting activities exemplify a growing trend of celebrities participating in high-risk, high-reward crypto ventures. Even with an estimated net worth of $250 million, such losses, whether in Bitcoin or traditional currency, are substantial.
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