Drake Loses $275,000 After Betting On UFC Fighter Jorge Masvidal
Drake might have made a small fortune from betting on the Super Bowl, but he didn’t have the same luck this week after taking a gamble on UFC fighter Jorge Masvidal.
The rapper shared a video of himself placing an online bet worth $275,000 in Bitcoin that Masvidal would win against Colby Covington in a UFC 272 fight that took place in Las Vegas on Saturday at the T-Mobile arena.
If Drake’s bet was successful, he could’ve walked away with a million dollars, TMZ reports. Unfortunately, however, the underdog didn’t come out on the winning end of the fight.
After Covington was announced as the winner, the martial artist had a few choice words for Drake. "Let's talk about all the money that Drake lost tonight. He needs to go back to selling those sh**** albums to get back the money,” Covington said.
The fighter, who’s known for his long-standing feud with Masvidal, warned Drake that he should stick to music and not sports. "Drake, you suck at sports betting. Go back to your sh**** little albums and rapping,” Covington continued.
Drake has been getting increasingly involved in the world of sports betting and cryptocurrency. Last month, we reported that the rapper bet over $1 million on the Los Angeles Rams as well as its star player (and his close friend) Odell Beckham Jr.
The musician posted screenshots to his Instagram page where it showed that he put down $600,000 in Bitcoin to bet that the Rams would win, which would’ve given him $906,000.
Two more screenshots showed that he wagered $500,000 that Beckham will have over 62.5 receiving yards for a payout of approximately $905,000. Additionally, Drake bet $500,000 that Beckham would score a touchdown for a $1.075 million return.
In the end, Drake ended up winning more than a million dollars in Bitcoin, which converts to approximately $300,000 USD.
Drake won two of his three bets. Beckham was unfortunately removed from the game early due to a knee injury, so he only completed 52 receiving yards. Had he stayed in the game longer, it’s believed Drake could’ve won the final bet (and won an additional $700,000 in Bitcoin).
Interestingly, the legality of the Canadian rapper’s bets have been called into question. As per the New York Post, Stake – the virtual gambling platform Drake used to place the bets – is not licensed to operate in his home province of Ontario. It’s not clear if Drake – who splits his time between the United States and Canada, despite being a Canadian citizen – is impacted by this.
Sources: TMZ, New York Post,
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