Drake Faces $1 Million Bitcoin Loss on Oilers, Mavericks Bets

Canadian rapper Drake is on the verge of losing a hefty $1 million in bitcoin after his high-stakes bets on the Edmonton Oilers and Dallas Mavericks to win their respective Stanley Cup and NBA Finals have gone sour. Drake wagered a staggering $500,000 on each team using bitcoin on the crypto casino Stake. The Oilers lost their third game to the Florida Panthers in the NHL Finals, and the Mavericks are down 3-0 to the Boston Celtics in the NBA Finals. Drake's bets were publicized on Instagram, where he shared the betting slips and a message: "Dallas cause I'm a Texan. Oilers are self explanatory. Picks in are @stake." Drake has had past partnerships with Stake and may have an incentive to promote the platform, even if his bets don't pay off. While no NBA team has ever won a series after being down 3-0, the Oilers and Mavericks still have a chance to extend the series. Drake has a history of losing bitcoin on sports bets, having previously lost $615,000 on a bet for Francis Ngannou to win against Anthony Joshua in a boxing match.