Canadian rapper and singer Drake lost $400,000 in bitcoin after betting that YouTuber boxer Jake Paul would beat Tommy Fury by knockout. Drake could have potentially collected a $1.44 million bitcoin payout, but Fury won the fight in a split decision victory.
Drake loses $400,000 Bitcoin bet on Jake Paul’s Bout
On February 26, 2023, in Diriyah, Saudi Arabia, YouTuber boxer Jake Paul’s winning streak was stopped by Tommy Fury, the half-brother of Mike Tyson. The fight was a close one, 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 bet $400,000 in bitcoin, or about 17 BTC, on Paul winning the fight by knockout (KO).
Drake took to Instagram to show off his bet, which was placed on crypto gaming platform Stake. “Knock knock,” Drake said with a door emoji. The screenshot Drake shared showed that if Paul had won the match, he could have cashed in $1.44 million in bitcoin. Drake is 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.
Drake lost $275,000 in BTC when he bet on mixed martial artist Jorge Masvidal’s fight, and he also lost $234,000 in bitcoin when Charles Leclerc didn’t win the Spanish Grand Prix. The rap star likes to play sports games, and a famous case was when Drake supported Conor McGregor in UFC 229, but McGregor lost the fight against Khabib Nurmagomedov.
There’s an ongoing internet joke now called ‘Dragon Curse,’ and as the joke goes, if the rapper endorses a person, they’re likely to lose. After the match and speaking at a post-match press conference, Paul joked about Drake’s effort.
“F***! This is 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 won a lot more money betting on me before. He’s probably about himself now. Sorry Drake, I’ll get that win in the rematch, added the fighter.
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Jamie Redman
Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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