Introduction
Canadian superstar Drake has suffered another major cryptocurrency loss, this time forfeiting $1 million in Bitcoin (BTC) after a failed wager on the New England Patriots in the Super Bowl. This high-profile loss is not an isolated incident but part of a costly pattern for the rapper, whose public sports bets using BTC have repeatedly backfired, amassing millions in losses and cementing an internet phenomenon known as the ‘Drake curse.’ The episode starkly illustrates the volatile and high-risk nature of combining celebrity influence, speculative cryptocurrency holdings, and high-stakes gambling.
Key Points
- Drake bet $1M in Bitcoin on the Patriots in the Super Bowl, but the Seahawks won 29–13.
- He has a history of crypto betting losses, including on soccer and UFC, totaling millions.
- The 'Drake curse' meme refers to teams or athletes losing after his public support or bets.
The Million-Dollar Super Bowl Misstep
The Super Bowl, held on February 8 at Levi’s Stadium, pitted the New England Patriots against the Seattle Seahawks in what is traditionally the most heavily bet-on single sporting event in the United States. Drake publicly entered the fray, revealing on his Instagram account that he had wagered a staggering $1 million worth of Bitcoin on the Patriots to secure victory. The odds for his bet were set at 2.95, meaning a Patriots win would have netted the musician a profit of nearly $2 million in BTC.
However, the outcome was a financial disaster for Drake. The Seattle Seahawks triumphed decisively with a final score of 29-13, rendering his $1 million Bitcoin bet a total loss. This single event transformed a potential multi-million dollar crypto windfall into a complete forfeiture, highlighting the instantaneous and absolute financial risk inherent in such speculative wagers.
A Pattern of Costly Crypto Bets
Drake’s Super Bowl loss is merely the latest in a series of unsuccessful forays into cryptocurrency-based sports betting. His track record reveals a consistent pattern of backing the wrong outcome. In 2022, he wagered over $600,000 in BTC on two soccer matches: first on English club Arsenal to beat Leeds United, and then on FC Barcelona to defeat its arch-rival Real Madrid in ‘El Clásico.’ Real Madrid emerged victorious, handing Drake another defeat.
The losses continued into 2024. At the start of the year, he bet $700,000 worth of Bitcoin on UFC fighter Sean Strickland to beat Dricus du Plessis, only for du Plessis to win by split decision. Several months later, Drake placed a particularly risky bet, wagering $300,000 in BTC on Canada’s national football team to upset the reigning world champion, Argentina. The odds for Canada were nearly 10, promising a substantial profit, but the team captained by Lionel Messi won 2-0. Cumulatively, these publicly disclosed bets represent millions of dollars in Bitcoin losses over a short period.
The Financial Reality of the 'Drake Curse'
This repeated misfortune has given rise to the popular internet meme known as the ‘Drake curse’—a superstitious belief that teams or athletes publicly supported or bet on by the rapper are doomed to lose. While framed humorously online, the underlying financial reality is serious. Drake’s actions demonstrate a significant deployment of cryptocurrency assets into highly volatile gambling markets.
The use of Bitcoin for these wagers adds a layer of complexity. Unlike traditional currency, the value of BTC itself is notoriously volatile. While the bets are denominated in its dollar value at the time of the wager, the rapper is effectively liquidating a speculative digital asset to fund speculative gambling. This compounds the risk, placing the funds at the mercy of both sporting outcomes and crypto market fluctuations. For observers in the financial and crypto sectors, Drake’s losses serve as a high-profile case study in the perils of treating cryptocurrency not as a long-term investment or transactional tool, but as a gambling bankroll for public spectacle.
Ultimately, the narrative of Drake’s Bitcoin betting spree transcends celebrity gossip. It provides a tangible, if extreme, example of the risks associated with cryptocurrency’s intersection with unregulated gambling markets. The millions lost underscore a critical lesson: whether in fiat or crypto, the house—or in this case, the unpredictable nature of sports—almost always wins.
📎 Related coverage from: cryptopotato.com
