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Drake loses $230,000 in BTC due to bad Formula 1 bet

Due to a lost bet on Charles Leclerc winning the Spanish Grand Prix, Canadian rapper Drake lost over $230,000 in BTC.

The Spanish Formula 1 Grand Prix, held last Sunday, did not end well for Drake, nor for Leclerc and Ferrari fans. Starting in the lead, the Monegasque driver had to abandon the race due to an engine problem.

Leclerc’s biggest rival for the title, Dutchman Max Verstappen of Red Bull, therefore found himself at the top of the tournament and won the Grand Prix.

Drake’s lost bet

Drake didn’t expect to lose so much money. Before the race, he revealed on his Instagram story that he bet $230,000 on Leclerc winning. The bet was placed through the Stake sports betting platform, which accepts cryptocurrencies. Although Drake’s story about his Stake bet hints that it was a publicity collaboration, it’s still quite interesting.

If Leclerc had finished in first place, the hip-hop icon would have won $353,000 in Bitcoin – the currency used in the transaction. Unfortunately, the rapper lost his entire bet amount.

For most ordinary people, this lost amount may seem astronomical, but for Drake, it’s not much. Last year, the artist had a fortune estimated at 200 million dollars. Moreover, he has already won several bets made in BTC.

drake
Source: Depositphotos

Drake: a great sports betting enthusiast

Drake caught the attention of the crypto community by placing three bets on the latest Super Bowl. In total, the singer staked 28 BTC, or $1.3 million at the time.

Two of his bets were winners: the Los Angeles Rams won the NFL Finals and one of their key players, Odell Beckham Jr. scored a touchdown in the game – feats that earned the rapper more than $2 million.

Later, Drake bet over $200,000 in crypto on Jorge Masvidal winning the UFC, a bet lost as Masvidal threw in the towel against Colby Covington. Even with his recent loss in Formula 1, the rapper still seems passionate about sports betting.

Formula 1 and the world of crypto

Drake’s bet on Charles Leclerc was his first at a Formula 1 Grand Prix, and it looks like it won’t be his last. Indeed, the singer maintains a strong friendship with Lewis Hamilton, the seven-time world champion of the tournament. He will therefore be able to bet on his friend during the next Grand Prix of this season.

Formula 1’s relationship with the crypto world is getting closer and closer. Many of its teams are sponsored by crypto exchanges and projects. OKX, for example, is an official sponsor of McLaren, while Red Bull proudly displays the Tezos logo on its uniforms, and has already launched NFTs in partnership with the network. Finally, Crypto.com is one of the main sponsors of Formula 1.

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