Drake lost more than a quarter million dollars after Colby Covingto ended up being the superior mixed martial artist
Canadian rapper Drake lost around $275,000 in Bitcoin, the largest cryptocurrency, after betting on American professional mixed martial artist Jorge Masvidal.
The “In My Feelings” hitmaker expected Masvidal to defeat Colby Covingto during a seismic UFC 272 event that took place on Saturday on the T-Mobile arena in Las Vegas.
Since Drake placed his bold bet on the underdog, he could have walked away with over $700,000.
Sadly for the superstar rapper, the upset didn’t happen, and Covingto won the grudge match by unanimous decision after dominating every round.
This isn’t the first time Drake has put his Bitcoin on the line. In February, he raked in $381,000 in the biggest cryptocurrency after betting $1.3 million on Super Bowl LVI. The Los Angeles Rams won against the Cincinnati Bengals which gave the rapper some easy cash.
However, it then came to light that Canadian online betting platform Stake, which facilitated Drake’s wagers, is not licensed in the Ontario province. Hence, his bets may have been illegal.
Last month, American rapper Kodak Black revealed that he received a $250,000 Bitcoin gift from Drake.
