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Canadian musician Drake is on the point of a major monetary loss as his bets on the NHL and NBA finals may value 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. Nevertheless, each groups are at present dealing with important challenges of their sequence, CoinDesk reported.
The Oilers have misplaced three consecutive video games towards the Florida Panthers within the hockey championship, whereas the Mavericks are trailing 3-0 within the basketball event 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. Nevertheless, no NBA workforce has ever come again to win a sequence within the playoffs or finals after being down 3-0.
Why It Issues: Drake is not any stranger to the world of sports activities betting and cryptocurrency. Prior to now, 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. Nevertheless, he additionally misplaced $400,000 in Bitcoin on a wager for YouTuber Jake Paul to win a boxing match towards Tommy Fury.
Drake’s latest 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 profitable over £200,000 (round $254,000) from a large wager on the T20 World Cup. The 37-year-old took to Instagram to share that he had positioned a £510,000 (round $649,000) wager on India to beat Pakistan of their T20 World Cup Group A conflict.
Learn Subsequent: Bitcoin, Ethereum, Dogecoin Retrace Morning Pump After FOMC Press Convention
Disclaimer: This content material was partially produced with the assistance of Benzinga Neuro and was reviewed and printed by Benzinga editors.
Photograph courtesy: Shutterstock
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