Drake, the rapper known for his extravagant lifestyle, has potentially incurred whopping losses in Bitcoin through high-stakes sports betting.
The artist's recent wager on the NBA Finals proved unsuccessful. The Dallas Mavericks, on whom he placed a $500,000 Bitcoin bet, were defeated by the Boston Celtics in a decisive 106-88 victory in Game 5.
Actually, had the Mavericks prevailed, Drake stood to gain $1.375 million.
And that was his second trouble of that kind in a row. A few days before that the rapper had another bad wager.
Drake placed a $500,000 in Bitcoin on the Edmonton Oilers to clinch the NHL Stanley Cup Finals. The possible outcome was $1.025 million.
Once again the rapper got unlucky. Oilers lost.
Both the NBA and NHL series began with 3-0 deficits for Drake's chosen teams, though each managed to secure a win in Game 4.
To Drake's credit, he shares his failures on social media with dignity. Thus, he gives us all an opportunity to see the growing intersection of cryptocurrency, celebrity culture, and sports betting. Something that was so hard to imagine even a couple of years ago.
What's next for Drake?
Well, the Oilers prepare for Game 5 on their home ice, The financial world prepares to see if Drake can recoup his losses or if his Bitcoin wallet will take another significant hit. Maybe we should start betting on that either.