Drake Loses a Fortune in BTC after Formula One Bet Goes South

Drake Loses a Fortune in BTC after Formula One Bet Goes South

Drake, the Canadian rapper, misplaced greater than $230,000 in BTC when he wager on Charles Leclerc to win on the Spanish Grand Prix.

The Formula One Spanish Grand Prix, which occurred final Sunday, didn’t finish nicely for Leclerc and Ferrari followers. Despite beginning in first place, the Monegasque driver needed to withdraw attributable to engine hassle.

Leclerc’s greatest rival for the title, Dutchman Max Verstappen of Red Bull, gained the Grand Prix and took the lead in the event. 

Drake wins some, loses some

We can solely presume that Drake had a good cry after shedding that a lot cash. Before the race, he confirmed on his Instagram story that he had positioned a wager of $230,000 on Leclerc’s victory. The wager was positioned through sports activities betting platform Stake, identified for accepting cryptocurrencies. While Drake’s story about his Stake wager appears to be an advertorial collab, it didn’t make it much less gripping with its ups and downs.

If Leclerc had completed in first place, the music star could be up by $353,000 in Bitcoin – the forex used in the transaction However, the rapper misplaced his complete wager quantity.

While it’s a large quantity by regular requirements, the quantity misplaced seems to not be a bid deal for Drake. The artist has a web value valued at $200 million, as of final yr. In addition, he has already completed very nicely in some earlier bets made in BTC.

Source: Depositphotos

Drake and his betting historical past

Drake caught the eye of the crypto world by inserting three bets on the final Super Bowl, which totaled 28 Bitcoin items, valued at $1.3 million on the time.

Two of the bets have been profitable: the Los Angeles Rams have been the winners of the NFL Finals and one among their fundamental gamers, Odell Beckham Jr. scored a landing in the match – feats that made the rapper earn greater than $2 million.

After that, he wager greater than $200,000, once more utilizing cryptocurrency, on Jorge Masvidal’s UFC victory. However, Masvidal misplaced to Colby Covington on the occasion. Even with the current loss in the Formula One, the musician continues to be manner forward in his betting interest up to now.

F1 and the crypto world

This was Drake’s first wager on a Formula One Grand Prix, and it seems prefer it gained’t be the final. The singer has a robust friendship with Lewis Hamilton, the seven-time world champion of the event. Drake will have the ability to wager on his good friend in the Grand Prix this season.

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Formula One itself has grow to be an more and more cryptocurrency-friendly event. Several of its groups have sponsorships from crypto exchanges and initiatives. OKX, for instance, is an official sponsor of McLaren, whereas Red Bull has the Tezos logo stamped on its uniforms, having already launched NFTs in partnership with the network. Finally, Formula One itself has Crypto.com as one among its fundamental sponsors.

It’s very a lot a case of vroom vroom for crypto, and total, for Drake.

Got one thing to say about Drake shedding a hell of a lot of BTC, or the rest? Write to us or be a part of the dialogue in our Telegram channel. You may catch us on Tik Tok, Facebook, or Twitter.

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