Canadian rapper and singer Drake lost $400,000 in bitcoin after he bet YouTuber-turned-boxer Jake Paul would beat Tommy Fury by knockout. Drake could have potentially collected a payout of $1.44 million in bitcoins, but Fury won the fight in a split decision victory.
Drake loses $400,000 bitcoin bet on Jake Paul fight
On February 26, 2023, in Diriyah, Saudi Arabia, YouTuber-turned-boxer Jake Paul’s winning streak was halted by Tommy Fury, Mike Tyson’s half-brother. The fight was close, with Fury winning by split decision (74-75, 76-73, 76-73), despite Paul knocking Fury down in the eighth round. Paul had six straight wins under his belt before losing to Fury on Sunday. Before the fight, rap star and actor Drake placed a bet of $400,000 in bitcoins, or about 17 BTCon Paul winning the fight by knockout (KO).
Drake took to Instagram and exhibited his bet, which was placed on the Stake crypto betting platform. “Knock knock,” Drake said, along with a door emoji. The screenshot shared by Drake showed that if Paul had won the fight, he could have cashed in $1.44 million in bitcoins. Drake is well known for placing various bitcoin bets, as the 36-year-old rapper bet $472,000 in bitcoin that the LA Rams would win against the Bengals in the Super Bowl. The Rams won 23-20 that game and Drake won $240,000 from the bet.
Duck lost $275,000 in BTC when he bet on mixed martial artist Jorge Masvidal’s fight, and he also lost $234,000 in bitcoins despite Charles Leclerc not winning the Spanish Grand Prix. The rap star likes to do sports betting, and a famous example was when Drake backed Conor McGregor in UFC 229, but McGregor lost the fight to Khabib Nurmagomedov.
There is an online joke going on now called the ‘Drake Curse,’ and according to the joke, if the rapper supports a person, they stand to lose. After the fight and speaking at a post-fight press conference, Paul joked about Drake’s bet.
“F***! It’s Drake’s fault! Paul said. “Drake, brother, why did you do this to me?” No, it’s my fault. $400,000 is nothing to him – he’s already made a lot more money betting on me. It probably still is now. Sorry Drake, I will get this win in the rematch,” the fighter added.
What do you think about Drake losing $400,000 in bitcoins after Jake Paul lost his fight against Tommy Fury? Let us know what you think about this topic in the comments section below.
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