Benzinga - Rapper Drake is well-known for betting on sports. The large wagers on sports teams he’s a fan of have also been known to lose, prompting some to call it the Drake Curse.
Drake may have had the last laugh Monday night with the Denver Nuggets winning the NBA Championship.
What Happened: The Denver Nuggets won its first NBA Championship in franchise history, defeating the Miami Heat in five games. The series featured two of the four final teams in the 2020 NBA Playoffs.
Prior to the NBA Finals series, Drake put down two bets on the Nuggets to win against the Heat.
Drake bet $1 million in Bitcoin (CRYPTO: BTC) that the Nuggets would win the NBA Championship, with a potential profit of around $230,000. A second bet was placed on the Nuggets winning the series in five games with a correct series score of 4-1, paying out a profit of around $600,000 on a $250,000 bet, as reported by Action Network.
The bets were placed by Drake on Stake, a cryptocurrency betting platform he is partnered with.
With the Nuggets winning Game 5 and winning the series 4-1, Drake won both bets and took home a profit of around $830,000 from betting $1.25 million on the NBA team.
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Why It’s Important: Drake has been known to bet large amounts on Stake on big sporting contests. While Drake is most famous for his wrong bets and the Drake Curse, the rapper has won several big wagers including betting on the Los Angles Rams and Kansas City Chiefs to win past Super Bowls.
While Drake’s win was impressive and won him a six-figure payday in profits, a bettor’s big parlay might be more impressive and comes with a much higher return by percentage.
As shared by Action Network a bettor placed a $101 wager at FanDuel on the Kansas City Chiefs winning Super Bowl LVII, Argentina winning the 2022 World Cup and the Denver Nuggets winning the NBA Championship. The bet paid out $82,719 for hitting all three legs of the parlay.
Drake famously bet on Argentina to win the World Cup final against France, but lost due to soccer betting rules that call a contest a draw if the game goes to extra time.
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