Aubrey Drake Graham, popularly known as Drake, recently made a $275,000 Bitcoin bet on a UFC fight between Colby Covingto and Jorge Masvidal. He picked the latter for a winner.
The fight took place on Saturday at the T-Mobile arena in Las Vegas. Unfortunately, Masvidal, who is the underdog in the fight, lost the match. If Masvidal had won the match, Drake would have made more than $700,000.
Drake Loses This Time
This will not be the first time the Canadian superstar has placed a Bitcoin bet. Last month, he made more than $400,000 in Bitcoin after placing $1.3 million on three separate bets on the Super Bowl LVI. The Cincinnati Bengals lost to the Los Angeles Rams, meaning that the Rapper was able to make cool Bitcoins from his bet.
Specifically, he placed $472,000 on LA Rams to win the title, about $400,000 on Odell Beckham Jr. (OBJ) to have over 62.5 receiving yards and over $400,000 on the footballer to catch a touchdown. Subsequently, the LA team won, earning Drake over $240,000 in Bitcoin. He also earned an additional $450,000 after OBJ caught the first touchdown in the match.
However, OBJ could not complete the match due to an injury. As a result, he wasn’t able to gain over 62.5 receiving yards, which means Drake lost one of the three bets he placed. Overall, he walked away with a substantial amount in Bitcoin as profit for his bet.
Drake Partners With Online Crypto Betting Firm Stake
Drake may have a promotional motive for placing these bets, after announcing his partnership with the online crypto betting platform Stake.
Drake announced the new crypto betting partnership last week, but there are still questions about the legality of the platform. there are also concerns about how Drake’s loyal fans can react to the crypto betting platform.
He is one of the celebrities, including Snoop Dog and Akon, that have interests in Bitcoin and digital assets. More celebrities are identifying with cryptocurrencies, with many of them already top players in the non-fungible token (NFT) space.