February 29, 2024
Drake's Super Bowl LVII Bets - Earns $1.2 Million in Bitcoin

Aubrey Drake Graham, known as Drake, the popular Canadian rapper, recently won a massive amount of Bitcoin worth $1,262,000 after betting on Super Bowl LVII. The singer bet on the Kansas City Chiefs to win the match, and Patrick Mahomes to score a touchdown, which resulted in a $700K gain.

Super Bowl is Immune to ‘Drake’s Curse’

This year, Drake tried his luck by betting on multiple events during the Super Bowl. He placed $700,000 worth of bitcoin on the Kansas City Chiefs to win, which brought him a profit of $777,000 in BTC. In another bet, he wagered $50,000 on Patrick Mahomes to score a touchdown, which resulted in a gain of $700K.

Drake also predicted that JuJu Smith-Schuster would score a touchdown, the Kansas City Chiefs would win both halves, and each quarter, Travis Kelce would become MVP, and the position of the MVP would be a tight end. However, these bets were unsuccessful.

In the end, Drake earned $1,262,000 in BTC using the sports betting platform Stake. This is not the first time the rapper has earned a massive profit betting on the Super Bowl. In 2021, he won $300,000 in BTC after the LA Rams won Super Bowl LVI.

No Crypto Ads This Year

Last year’s Super Bowl featured attention-grabbing ads promoting cryptocurrency trading platforms, but this year, they are nowhere to be seen. The crypto industry has faced difficulties since then, particularly FTX, which filed for bankruptcy and whose founder faces charges of misusing customer deposits for personal gain.

In December, FTX’s founder, Sam Bankman-Fried, faced charges of using billions of dollars in customer deposits to finance political contributions, extravagant real estate acquisitions, and trading activities at his hedge fund. Bankman-Fried has denied the allegations of engaging in widespread fraud.

According to Kantar, crypto companies spent $39 million on Super Bowl ads in 2022, but they did not yield a strong return on investment, leading to a soft performance for financial services.

Last year’s Super Bowl was dubbed the “Crypto Bowl” because of the numerous cryptocurrency companies that promoted themselves during the event. However, this year, food and beverage giants like Doritos, Heineken, and Bud Light replaced crypto firms as their logos did not appear due to the bear market and shrinking interest in the asset class.

The ” Drake Curse “

Although Drake has had success betting on American football, he has lost numerous bets on other sports, such as soccer, boxing, and UFC. In fact, many teams and athletes suffered a downfall after he announced his support for them, which led to the creation of the phrase “the Drake curse.”

For instance, during the FIFA World Cup final between Argentina and France, the rapper predicted Lionel Messi and his teammates would win the trophy after 90 minutes of play. However, they secured the victory in penalties.

Conclusion

Canadian rapper Drake won $1,262,000 worth of Bitcoin after betting on the Kansas City Chiefs to win and Patrick Mahomes to score a touchdown during the Super Bowl LVII. Drake also placed other bets, but they were unsuccessful. This is not the first time that Drake has made a considerable profit by betting on the Super Bowl; in 2021, he won $300,000 in Bitcoin after the LA Rams won Super Bowl LVI.

Cryptocurrency ads were absent from this year’s Super Bowl after many crypto companies spent a combined $39 million on ads in 2022.

The lack of returns on investments resulted in a weak performance for financial services. Finally, Drake is known for his successful Super Bowl bets, but he has also lost bets on other sports, leading to the creation of the term “the Drake curse.”

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