Drake Loses Over $8M on Sports Bets in a Month

Drake Loses Millions in Sports Betting

Canadian rapper Drake has reportedly lost over $8 million (approximately €7 million) in sports bets in a single month. According to his account statement, the global superstar wagered a total of $124.5 million with a bookmaker during that period.

On June 18th, Drake shared a screenshot on Instagram of his account with Stake, an online casino. The screenshot revealed a significant deficit in his sports betting activities, as noted by news outlets. By displaying his negative gambling balance, the rapper aimed to highlight the potential downsides of online gambling. Drake did not disclose the specific sports bets he placed and lost via social media.

It became apparent that his losses had been mounting, particularly after game six of the NBA Finals. Drake bet on a victory for Oklahoma City Thunder, which would have secured them the championship. However, Indiana Pacers won at home, forcing a decisive seventh game. Drake wagered a total of $800,000 on Oklahoma City, with $600,000 on a straight win and $200,000 on a Thunder victory by a margin of six to ten points.

The Drake Curse

Due to Drake’s tendency to bet on the losing team or athlete, the phenomenon known as the Drake Curse has been around for some time. Notable examples include Mike Tyson (boxing), Israel Adesanya (UFC/MMA), Toronto Maple Leafs (NHL Ice Hockey), San Francisco 49ers (NFL/American Football), and Duke Blue Devils (College basketball).

However, this “curse” did not affect the Indian cricket team Royal Challengers Bangalore, who won their title for the first time in eighteen years. Drake had wagered $750,000 on a victory for Royal Challengers Bangalore in the final against Punjab Kings, as revealed in an Instagram post from two weeks ago. The rapper won $1.3 million with this bet.

Whether Drake’s losses truly impact him financially is debatable. Not only is the rapper incredibly wealthy, but he also has an agreement with Stake.com, the gambling platform where he exclusively places his bets. His Instagram account also features multiple references to the gambling site.