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Canadian musician Drake is getting ready to a big monetary loss as his bets on the NHL and NBA finals may price him $1 million price of Bitcoin BTC/USD.
What Occurred: Drake positioned two separate $500,000 bets on the Edmonton Oilers and the Dallas Mavericks to win their respective Stanley Cup and NBA finals. Nonetheless, each groups are presently dealing with important challenges of their sequence, CoinDesk reported.
The Oilers have misplaced three consecutive video games in opposition to the Florida Panthers within the hockey championship, whereas the Mavericks are trailing 3-0 within the basketball match after consecutive losses to the Boston Celtics. Each sequence are best-of-seven.
Drake revealed on June 6 that he had made the bets on the crypto on line casino Stake utilizing Bitcoin and posted the betting slips on Instagram. He has beforehand partnered with Stake, which may doubtlessly clarify his publicizing of the bets.
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Drake, 37, may have received $1.025 million and $1.375 million if the Oilers and Mavericks had received their respective sequence. Nonetheless, no NBA group has ever come again to win a sequence within the playoffs or finals after being down 3-0.
Why It Issues: Drake isn’t any stranger to the world of sports activities betting and cryptocurrency. Previously, he has made headlines for each his wins and losses on this area.
In February 2023, he received $1.2 million in Bitcoin after betting on the Kansas Metropolis Chiefs to win the Tremendous Bowl. Nonetheless, he additionally misplaced $400,000 in Bitcoin on a guess for YouTuber Jake Paul to win a boxing match in opposition to Tommy Fury.
Drake’s current betting actions are consistent with his earlier endorsements of cryptocurrency. In March, he endorsed MicroStrategy CEO Michael Saylor’s Bitcoin technique of “shopping for it to carry it 100 years.”
Earlier this week, Drake additionally made headlines after successful over £200,000 (round $254,000) from a large guess on the T20 World Cup. The 37-year-old took to Instagram to share that he had positioned a £510,000 (round $649,000) guess on India to beat Pakistan of their T20 World Cup Group A conflict.
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Disclaimer: This content material was partially produced with the assistance of Benzinga Neuro and was reviewed and revealed by Benzinga editors.
Photograph courtesy: Shutterstock
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