Canadian hip-hop artist Drake is famously a huge fan of sports betting, but in recent times, he hasn’t been very successful. The most recent in a long series of betting losses happened on Sunday when he lost a $400,000 bet on Jake Paul.
Drake bet that the Youtuber-turned-boxer would beat Tommy Fury by knockout in the event called the Truth in Saudi Arabia. However, Tyson Fury’s younger brother won the fight by a split decision after eight super-exciting rounds.
Jake Paul Fails to Make Drake $1.44M Richer
Drake backed Jake Paul to win the fight against Tommy Fury by knockout, putting a total of $400,000 on the American pugilist in the form of Bitcoin (about 17 BTC). The odds were +260 (3.60), meaning that if the younger of the Paul brothers won the fight, Drake would’ve cashed in $1.44.
Drake used the crypto-friendly sportsbook Stake to place his high-stake bet. This wasn’t the first time he used this platform to bet. Actually, he’s been using it for several years. One of the first notable moments in his Stake story happened in February 2022 when he won $712,000 in BTC after betting on the Los Angeles Rams to win the Super Bowl LVI. Since then, however, he hasn’t had much success betting.
Jake Paul reacts to Drake losing a $400,000 bet on him to beat Tommy Fury… pic.twitter.com/Vz54CyDTji
— Michael Benson (@MichaelBensonn) February 27, 2023
Some of his biggest losses include losing $275,000 on Jorge Masvidal against Colby Covington at UFC 272, and $234,000 on Charles Leclerc in the Formula 1 Spanish GP race. His betting failures inspired the online community to start making jokes about him. In turn, Drake became the subject of an online joke.
The Drake Curse, as it’s called, refers to the situation in which the favorite is likely to lose after Drake has backed them.