Bad Bitcoin Bet! Canadian rapper ‘Drake’ loses $230K on a poor Spanish Grand Prix prediction

NEW DELHI (CoinChapter.com) — Popular Canadian rapper Aubrey Drake Graham, better known by his stage name ‘Drake,‘ lost more than $230,000 worth of Bitcoin (BTC) after a bet on the Spanish Grand Prix did not land in his favor.

Drake bet $234,000 in BTC on Ferrari’s driver Charles Leclerc to win the Spanish Grand Prix. However, the rapper’s prediction failed to bear fruit as Red Bull’s Max Verstappen won the race.

The artist shared a post on his Instagram story, which showed Drake bet 300,000 Canadian Dollars ($USD234,000) on Ferrari’s best-performing driver this season—Charles Leclerc—to win Spain’s Grand Prix 2022.

Leclerc showed promise in the first half of the race, taking a comfortable lead. It seemed likely that the racer would enjoy a podium finish, but rising temperatures in Barcelona proved too much for Leclerc’s machine.

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The car’s engine gave out during Lap 27, paving the way for Red Bull’s Max Verstappen. However, Drake did not share if he bet on a close friend and seven-time world champion – Lewis Hamilton, who ended up fifth.

Not The First BTC Bet For Drake

Drake’s Spanish Grand Prix bet might be the rapper’s first bet on F1 racing, but not his first crypto bet. Earlier this year, Drake made a $275,000 Bitcoin bet on a UFC fight between Jorge Masvidal and Colby Covington, favoring Jorge Masvidal.

Masvidal was the underdog, with 3.75-to-1 odds on his win. Drake would have collected more than $750,000 of his bet if he had won.

However, Drake has not always been unlucky in his predictions. In Feb 2022, the singer made $300,000 in profits after betting $1.26 million worth of BTC on the Super Bowl match between the Los Angeles Rams (LA Rams) and the Cincinnati Bengals.

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Drake bet $472,000 on LA Rams to win the title, $400,000 on footballer Odell Beckham Jr (OBJ) to catch a touchdown, and another $400,000 on OBJ to have over 62.5 receiving yards. The rapper won the first two bets, but Beckham Jr failed to complete 62.5 receiving yards due to an injury.

Drake used the crypto betting platform Stake to place these bets. Stake claims to be one of the leading crypto-based sports betting platforms.