Drake Suffers Defeat In F1 Spanish Grand Prix, Losing $234k In BTC

Drake lost another bitcoin (BTC) bet worth $234K after Max Verstappen defeated Charles Leclerc to win the Spanish Grand Prix
Drake Suffers Defeat In F1 Spanish Grand Prix, Losing $234k In BTC
Drake Suffers Defeat In F1 Spanish Grand Prix, Losing $234k In BTC

Drake, whose real name is Aubrey Drake Graham, bet $234,000 in bitcoin (BTC) that Ferrari driver Charles Leclerc would win the Spanish Grand Prix.

Max Verstappen, a Red Bull driver, won the race, which was bad news for him.

Huge Loss For Drake Following Max Verstappen Victory

The artist posted on Instagram to show his 110 million followers that he put $234,000 worth of bitcoin on Ferrari’s best driver, Charles Leclerc, to win the Grand Prix of Spain in 2022. Drake’s first bet on Formula 1 was made on the crypto gambling platform Stake.

Drake Suffers Defeat In F1 Spanish Grand Prix, Losing $234k In BTC

During the first part of the race, the 24-year-old racer had a comfortable lead. It looked like he could win and bring the rapper a profit of around $350,000 worth of the main cryptocurrency.

But the rising temperatures in Barcelona caused Leclerc a lot of trouble. On lap 27, his engine broke down because of the heat.

Max Verstappen, his main rival from the Red Bull team, took the lead and won Spain’s GP. He seemed to have chosen a better strategy and the right tires for the weather.

Lewis Hamilton, who finished the race in fifth place, is a seven-time world champion and a close friend of Drake. Even though they were friends, the rapper didn’t say if he bet some cryptocurrency on him.

This Is Not Drake’s First BTC Bet.

1. A Win This Time Around

The musician is not a novice when it comes to betting on sports. In February, he put $1.26 million worth of bitcoin on the Super Bowl game between the Los Angeles Rams and the Cincinnati Bengals.

He put down $472,000 on the LA Rams to win the championship, about $400,000 on Odell Beckham Jr. (OBJ) to catch a touchdown, and another $400,000 on the football player to have more than 62.5 receiving yards.

The team from Los Angeles won by a score of 23–20, giving Drake $240,000 in BTC. His second bet also paid off when OBJ caught the first touchdown of the game, giving the rapper an extra $453,000 worth of the top digital asset.

Due to an injury, the football player couldn’t get more than 62.5 receiving yards, so Drake’s last guess was wrong.

2. Betting on The Underdog

The popular Canadian rapper Aubrey Drake Graham, better known as Drake, made a $275,000 bitcoin bet on a UFC fight. Unfortunately for him, Jorge Masvidal (his pick for a winner) lost the match.

The rapper entered a UFC fight to see how he would do. He put down $275,000 in bitcoin on the idea that Jorge Masvidal would beat Colby Covington.

— MMAFighting.com (@MMAFighting) March 6, 2022

Drake and Covington had a tough fight, but by the end of the last round, it was clear that Covington was the winner.

Even though no one was knocked out, the fight was brutal, as many had expected. Covington was much better than his opponent, though. He hit Masvidal 218 times, while Masvidal “only” hit him 90 times. The first one was in charge of the fight, and all three judges sided with him.

Masvidal was the underdog in the fight, with odds of 1 to 3.75 that he would win. Drake would have won more than $750,000 worth of bitcoin if he had won the match.

Covington made fun of the Canadian rapper during his press conference after he won. He said, “Let’s talk about how much money Drake lost tonight.” Covington even told him that he should sell some of his albums to make up for the money he lost.