United States of America rapper, Drake, has lost $355,000 following Jake Paul’s victory over boxing legend, Mike Tyson on Friday.
Drake lost the bet of the sold-out boxing match that took place at the AT&T Stadium in Arlington, Texas, United States of America.
The match took place after a year of heated exchanges between Paul and Tyson.
Drake is known to stick out his neck in bets for sporting events.
While he has won some, he lost many more in the recent past.
Drake betting analysis from recent years
In 2024, Drake made six significant bets. He only hit two, resulting in a mixed over. The bet on Alex Poatan’s victory over Jamahal Hill in the UFC netted the rapper a profit of US$425,000.
However, the biggest win came from betting on the Kansas City Chiefs in the Super Bowl, which generated a profit of $1.2 million. In contrast, he suffered huge losses, including $565,000 on a bet on Tyson Fury against Oleksandr Usyk and $700,000 on Strickland against Dricus du Plessis.
Last year, Drake faced difficulties in betting. His bet on Adesanya beating Strickland by knockout resulted in a loss of $500,000.
Furthermore, the bet on Jake Paul against Tommy Fury was a financial disaster, with a loss of $1.2 million. The only successful bet was again on the Kansas City Chiefs in the Super Bowl, providing a profit of $500,000.
The year 2022 has been particularly challenging for Drake. Among the significant losses, he suffered a loss of US$1 million when betting on Argentina to win over France in normal time during the World Cup.
Other bad bets included losing $600,000 on trusting Barcelona against Real Madrid and $230,000 on winning Charles Leclerc at the Spanish GP. The only significant achievement was the bet on the Los Angeles Rams in the Super Bowl, which generated a profit of $300,000.
Partnership with Stake.com
Finally, in 2022, Drake entered into a $100 million partnership with Stake.com. The rapper helped turn the company into a well-known brand in the betting industry by promoting his bets on social media.
Furthermore, the rapper became a co-owner of Stake and undoubtedly has a stake in the company’s profits, which recorded gross revenue of US$2.6 billion in 2022.
