Canadian singer, rapper, and songwriter Drake has placed two bets of $500,000 each on the NHL’s Edmonton Oilers and the NBA’s Dallas Mavericks to win the Stanley Cup and NBA finals, respectively. However, these teams winning their leagues looks highly unlikely as they have registered three losses and zero wins so far.
Drake placed the bets using BTC on Stake, a popular online crypto casino he is often known to frequent and livestream his gambling activities. He posted on Instagram, “Dallas cause I’m a Texan. Oilers are self explanatory. Picks in are @stake.”
Both series follow a best-of-seven format, and the Oilers and Mavericks may find it hard to make comebacks. No team in the NBA has won the series after maintaining a 3-0 loss streak. Both teams play this weekend and need to win their respective games to move further in their championships – losses in the games will confirm Drake losing his bets worth $1 million.
It looks unlikely that Drake would cash in on these bets – he had the opportunity to take home $1.025 million if the Oilers won the NHL and $1.375 million if the Mavericks topped the NBA charts. The betting slip he posted on Instagram reveals the payout details.
Despite placing $1 million in losing bets, Drake may not be in the red for the entire amount. He has previously had monetary relationships with Stake. And his posting about his bets on the platform constantly and even livestreaming his adventures (or misadventures) on it may have incentives. He may still have deals with Stake to market the platform to larger audiences.
Nevertheless, Drake is no stranger to losing massive amounts while betting on sports. His most recent and significant loss was the $615,000 bet he placed on Francis Ngannou beating Anthony Joshua in their boxing match. Joshua beat Ngannou, which meant he lost way over half a million dollars.