Drake Loses $300,000 Bitcoin Bet on Copa América Match

Drake Loses 0,000 Bitcoin Bet on Copa América Match

In brief

  • Drake bet $300,000 in Bitcoin on Canada to beat Argentina in the Copa América semi-finals.
  • Argentina won the match 2-0, meaning Drake lost his bet.
  • The Argentina national team mocked Drake on social media after their victory.
  • This loss follows Drake’s recent $1 million Bitcoin loss on NHL and NBA bets.
  • The Argentine Football Federation (ARG) fan tokens rose by 40% after the team’s victory.

Canadian rapper Drake has lost another major sports bet, this time in the international soccer world.

The musician bet $300,000 worth of Bitcoin on his home country of Canada to beat Argentina in the semi-finals of the Copa América on July 9, 2024.

Drake made the bet through Stake, a crypto betting platform where he serves as a brand ambassador. If Canada had won, Drake could have received a massive $2.88 million payout. However, things didn’t go as he had hoped.

Source: Champagnepapi/Instagram
Source: Champagnepapi/Instagram

Argentina, the reigning world champions, proved too strong for the Canadian team. Led by soccer superstar Lionel Messi, who scored one of the goals, Argentina secured a 2-0 victory.

This victory not only eliminated Canada from the tournament, but also cost Drake his significant Bitcoin stake.

This loss adds to Drake’s recent string of failed sports bets. In June, he lost a combined $1 million in Bitcoin bets on the NBA Finals and NHL Stanley Cup Finals.

While these amounts may seem large to most people, they represent only a small portion of Drake’s wealth, considering his successful music career and business ventures.

After the game, the Argentina national team took to social media to poke fun at Drake’s failed bet, posting a photo with the words “Not Like Us” alongside the caption “Not like us, not with us.”

This line refers to a recent diss track from rapper Kendrick Lamar, aimed at Drake as part of an ongoing feud between the two artists.

Drake’s betting has gained attention not only for the high stakes, but also for what some fans call the “Drake Curse,” a superstition that teams or athletes Drake supports tend to lose.

While this is more of a joke than an actual phenomenon, it has become a topic of conversation whenever Drake publicly makes a bet.

Interestingly, while Drake’s bet didn’t pan out, there were some winners in the crypto space following Argentina’s victory. The Argentine Football Federation Fan Token (ARG), a cryptocurrency associated with the national team, saw a significant boost.

    ARG Price on CoinGecko
ARG Price on CoinGecko

The token’s price increased by around 40% after the match, reaching around $1.60. This increase came after a period of decline, with the token still well below its all-time high of $9.1 reached during the 2022 World Cup.

Despite the loss, Drake is unlikely to stop betting on sports anytime soon. He has won a few things in the past, including a $2.35 million Bitcoin payout earlier this year when he correctly bet on the Kansas City Chiefs to win the Super Bowl.

The intersection of cryptocurrency and sports betting continues to grow, with platforms like Stake gaining popularity among high-profile users. But as Drake’s experience shows, even celebrities with deep pockets can suffer significant losses when betting on sports outcomes.

As the Copa América tournament draws to a close, all eyes are on Argentina in the final. In the meantime, crypto enthusiasts and sports fans will be watching to see if Drake places any more bets and whether his luck in the world of sports betting will change.