Drake Lost $234K in BTC on the F1 Spanish GP

The Canadian rap star – Aubrey Drake Graham (better known as Drake) – placed a $234,000 worth of bitcoin bet on Ferrari’s driver Charles Leclerc to win the Spanish Grand Prix. Unfortunately for him, the winner of the race was Red Bull’s pilot Max Verstappen.

Drake’s First F1-Bitcoin Bet

The artist took it to Instagram to show his 110 million followers that he wagered CA$300,000 ($234,000) worth of bitcoin on Ferrari’s best performing driver – Charles Leclerc – to finish first in Spain’s Grand Prix 2022. This was Drake’s first Formula 1 bet, and he made it on the crypto gambling platform – Stake.

The 24-year-old racer had a comfortable lead during the first part of the competition and looked like he could secure a victory and bring the rapper a profit of around $350,000 worth of the primary cryptocurrency.

However, the rising temperatures in Barcelona caused huge problems for Leclerc as his engine gave way on lap 27. His main competitor from Red Bull’s team Max Verstappen – who seemed to have picked a better strategy and the appropriate tires for the weather conditions – took the lead and won Spain’s GP.

It is worth noting that Drake is a close friend to the seven-time world champion – Lewis Hamilton – who finished the race in fifth place. Despite their friendship, the rapper did not reveal whether he bet some crypto on him.

Drake’s Previous BTC Bets

The musician is not a newbie when speaking of sports betting. In February, he made a major $1.26 million bet worth of bitcoin on the Super Bowl match between the Los Angeles Rams (LA Rams) and the Cincinnati Bengals. He wagered $472,000 on LA Rams to win the title, about $400,000 on Odell Beckham Jr. (OBJ) to catch a touchdown and $400,000 on the footballer to have over 62.5 receiving yards.

The team from Los Angeles won by 23-20, bringing Drake a profit of $240,000 worth of BTC. His second bet was also successful since the superstar OBJ caught the first touchdown in the match, granting the rapper an additional $453,000 worth of the leading digital asset.

Unfortunately, the footballer could not gain over 62.5 receiving yards due to an injury, and Drake lost his last prediction.

A few weeks later, the rapper tried his luck in a UFC fight. He bet $275,000 worth of bitcoin that Jorge Masvidal would secure a victory versus Colby Covington. The fighters had a fierce fight but, unluckily to Drake, Covington was the undisputed winner after the end of the last round.