The Canadian rapper and singer Drake lost $400,000 in bitcoin after betting that the YouTuber-turned-boxer Jake Paul would beat Tommy Fury by knockout. Drake could have potentially raked in a $1.44 million bitcoin payout, but Fury won the fight in a split-decision victory.
Drake Loses $400K Bitcoin Bet on Jake Paul’s Bout
On Feb. 26, 2023, in Diriyah, Saudiarabien, YouTuber-turned-boxer Jake Paul’s winning streak was stopped by Tommy Fury, the half-brother of Mike Tyson. The fight was a close bout, 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, the rap star and actor Drake placed a $400,000 bitcoin wager, or roughly 17 BTC, on Paul winning the fight by knockout (KO).
Drake took to Instagram and showed off his bet, which was placed on the crypto betting platform Stake. “Knock knock,” Drake said, with a door emoji. The screenshot Drake shared showed that if Paul had won the fight, he could have cashed in $1.44 million in bitcoin. 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 wager.
Drake lost $275,000 i BTC when he bet on the mixed martial artist Jorge Masvidal’s fight, and he also lost $234,000 in bitcoin when Charles Leclerc did not win Spain’s Grand Prix. The rap star enjoys making sports bets, and one famous instance was when Drake backed Conor McGregor in UFC 229, but McGregor lost the fight to Khabib Nurmagomedov.
There’s an ongoing online joke now called the ‘Drake Curse,’ and according to the joke, if the rapper backs a person, they are likely to lose. Following the fight and speaking at a post-fight press conference, Paul joked about Drake’s bet.
“F***! This is Drake’s fault!” Paul sa. “Drake, bro, why did you do this to me? Nej, it’s my fault. $400,000 is nothing to him – he has won a lot more money betting on me before. He’s probably about even now. Sorry, Drake, I’ll get that win in the rematch,” the fighter added.
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