Drake Wagered $1.3 million in super bowl bet using bitcoin

[uneng]

Well, it did paid off and Drake made a fortune betting on Rams with that much money. This will definitely be a big advertisement for crypto use but the thing that I fear the most is the mainstream media blotting this news out because they don't like crypto in it or maybe they might spin it around and make people think that crypto is a bad influence as it's used for gambling.

Media will always have something bad to say, they wont stop from doing this what good here is that, many celebrities are into Bitcoin now, and Drake just made a good return and increase his Bitcoin holdings. I’ve watched the game and that was a great one, many celebrities goes to the stadium to watch, I’m sure many of them placed their own bet as well. Gambling maybe bad in the eye of the others, but that’s alright they can’t hurt Bitcoin by that since fiat money are also being used for gambling.

I think there isn't anything bad the media can say about bitcoin or gambling due to the bet made by Drake. As you said, fiat is also used for gambling, so it's not an exclusivity of crypto universe, what means people will gamble anyway even if bitcoin didn't exist. And since big sums of money can't be moved anonymously through bitcoin on most gambling platforms, the media can't say it's money laundering too, because it's possible to easily investigate in case of suspicion.

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[mv1986]

Well, it did paid off and Drake made a fortune betting on Rams with that much money. This will definitely be a big advertisement for crypto use but the thing that I fear the most is the mainstream media blotting this news out because they don't like crypto in it or maybe they might spin it around and make people think that crypto is a bad influence as it's used for gambling.

Media will always have something bad to say, they wont stop from doing this what good here is that, many celebrities are into Bitcoin now, and Drake just made a good return and increase his Bitcoin holdings. I’ve watched the game and that was a great one, many celebrities goes to the stadium to watch, I’m sure many of them placed their own bet as well. Gambling maybe bad in the eye of the others, but that’s alright they can’t hurt Bitcoin by that since fiat money are also being used for gambling.

I think there isn't anything bad the media can say about bitcoin or gambling due to the bet made by Drake. As you said, fiat is also used for gambling, so it's not an exclusivity of crypto universe, what means people will gamble anyway even if bitcoin didn't exist. And since big sums of money can't be moved anonymously through bitcoin on most gambling platforms, the media can't say it's money laundering too, because it's possible to easily investigate in case of suspicion.

You are right, but things are all too often not about the truth, but about establishing/established narratives. If the governments want to achieve a certain goal, there are always media that will accommodate politicians' goals and ideas. That's essentially the case in almost any country in the world. Someone I know said: governments and central banks are talking about banning Bitcoin because it is sooooo dangerous, but they allow young grown ups and almost kids to get wasted, go into a casino and literally lose everything they have. They could even gamble with stolen money from their parents, nobody would ask. Before they ban Bitcoin (which is soooo dangerous and speculative), why not ban gambling, especially when alcohol is involved?

I think the guy has a serious point here. Really, I can buy a digital coin that I researched well and that they want to forbid, but they do allow me to get wasted, go into a casino and place 10,000 USD on a color in a roulette game... lol... Another argument they bring up is that people borrow money to invest into crypto. Well, they have a point there, that is dangerous. But I can do a thousand things with the money I borrowed that are worse than investing into crypto.

Things aren't supposed to make sense, they are supposed to serve the strongest lobbies' interests within our society. I am glad Bitcoin by now has a lobby that is able to compete.

[coolcoinz]

^
If they want to make that narrative they can. Governments switch stances as they go. One day they like and support a country, the other they're against it. They support a law, they vote to remove it. In history you had a lot of these cases. Weed was legal, then illegal, now partially legal in some states. Distilling alcohol was legal, then completely illegal, now it depends on the state.
Gambling is legal, when they are making money on it. They would make crypto illegal if so many politicians and their friends weren't making money manipulating the market.

[goinmerry]

I'm seeing this as a way to advertise the Stake platform itself and not the crypto in general. It's not new that Bitcoin or any other cryptos are now being used on gambling events such as this big Super Bowl event.

And looks like Drake even started this bitcoin betting even before but not just disclosing it in public like when the Toronto Raptors won an NBA Championship last 2019. The Raptors' odds to win on that series is worth to bet and I even won decently during that time.

[agustina2]

Well, it did paid off and Drake made a fortune betting on Rams with that much money. This will definitely be a big advertisement for crypto use but the thing that I fear the most is the mainstream media blotting this news out because they don't like crypto in it or maybe they might spin it around and make people think that crypto is a bad influence as it's used for gambling.

Media will always have something bad to say, they wont stop from doing this what good here is that, many celebrities are into Bitcoin now, and Drake just made a good return and increase his Bitcoin holdings. I’ve watched the game and that was a great one, many celebrities goes to the stadium to watch, I’m sure many of them placed their own bet as well. Gambling maybe bad in the eye of the others, but that’s alright they can’t hurt Bitcoin by that since fiat money are also being used for gambling.

Particularly on Drake betting on Bitcoin, I don't see media will go through far by saying bad things about it. There's no sense in doing that since it's not harmful after all. Not even a big threat to whatever media likes to point out.

Stake is also a popular crypto-betting company that is running for years. The reputation is solid and the media won't be bothered to take a scoop out of that.

Drake just contributes more to the awareness of using Bitcoin and to the popularity of Stake.

[Fundamentals Of]

This is not only going to benefit the gambling platform Stake but also Bitcoin itself and crypto. This wager by Drake has made headlines in the news not only because of how large the amount is but also because it was made in Bitcoin.

Drake is a famous personality not only in the US but also in the whole world. This is definitely going to promote Bitcoin. Not to mention that Super Bowl is being followed by millions of people also.

If I am not mistaken this bet by Drake has already won.

[xSkylarx]

This is not only going to benefit the gambling platform Stake but also Bitcoin itself and crypto. This wager by Drake has made headlines in the news not only because of how large the amount is but also because it was made in Bitcoin.

Drake is a famous personality not only in the US but also in the whole world. This is definitely going to promote Bitcoin. Not to mention that Super Bowl is being followed by millions of people also.

If I am not mistaken this bet by Drake has already won.

That is correct, both of them made it famous because it is extremely large and also because it is bitcoin. But, has anyone considered whether that is really Drake's money or whether it is for stake.com, given that it was sponsored? I'm not sure about this, but whether or not it is sponsored, it has a significant impact on the site as a whole, as well as the bitcoin community. Bitcoin is becoming increasingly well-known, thanks to the fact that celebrities are already talking about it.

[Dave1]

Is this is paid publicity? I'm just curious, but regardless, I still like the fact that a celebrity is not afraid of risking huge money using a crypto sportsbook. Stake is already popular in the crypto space, but with this publicity, for sure they will be more popular, and it will not end there as the whole crypto gambling world will benefit from this kind of publicity.

I would say that it is possible, only Stake can answer that for us. They have been in crypto industry for so long that maybe they really attracted famous individuals to bet on their platform. Or maybe they contacted Drake to bet on them with something in return. Anyhow, for sure this is a big exposure for the whole crypto market seeing it being covered in the media for the biggest sporting events in the US.

[mv1986]

^
If they want to make that narrative they can. Governments switch stances as they go. One day they like and support a country, the other they're against it. They support a law, they vote to remove it. In history you had a lot of these cases. Weed was legal, then illegal, now partially legal in some states. Distilling alcohol was legal, then completely illegal, now it depends on the state.
Gambling is legal, when they are making money on it. They would make crypto illegal if so many politicians and their friends weren't making money manipulating the market.

That's it. The crypto hype captivated too many of people with power already. They have invested themselves. Exactly as you said, if crypto wasn't making people rich who have a say in the corporate or political world, it would probably be banned everywhere by now (it would still work, but it would be banned). Switzerland accepts cryptocurrencies for paying taxes. Well, what a surprise, isn't it? I am quite sure a ton of people living in Switzerland or a lot of corporations that have been set up there made a fortune with crypto. The government knows it and would never consider banning crypto.

Anyway, we got a bit off-topic here although I want to note that this did indeed relate to the harmful narratives governments and media can establish even about a celebrity who promotes cryptocurrencies, in this case Drake.

[_act_]

but the thing that I fear the most is the mainstream media blotting this news out because they don't like crypto in it or maybe they might spin it around and make people think that crypto is a bad influence as it's used for gambling.

If cryptocurrencies are bad influence because it is used for gambling, the fiat that are used for gambling (I mean the countries that support gambling) are also bad influence. This should not be the reason and not a good reason to deem cryptocurrencies bad. What is valuable is what can be used for gambling, like properties and money. Cyypto fall into being even more than money, it is valuable for gambling as its ease of its online use.

[traderethereum]

This is not only going to benefit the gambling platform Stake but also Bitcoin itself and crypto. This wager by Drake has made headlines in the news not only because of how large the amount is but also because it was made in Bitcoin.

Drake is a famous personality not only in the US but also in the whole world. This is definitely going to promote Bitcoin. Not to mention that Super Bowl is being followed by millions of people also.

If I am not mistaken this bet by Drake has already won.

News of Drake's victory spread everywhere and it could make many people look and want to find out the truth.
And people will see Stake as one of the popular sites using crypto and Drake betting on that site.
That will make many people visit Stake.com and try to bet there.
It can be a great means of promotion for Stake because they can get a chance to get more members who will gamble on their site.

[coolcoinz]

^
If they want to make that narrative they can. Governments switch stances as they go. One day they like and support a country, the other they're against it. They support a law, they vote to remove it. In history you had a lot of these cases. Weed was legal, then illegal, now partially legal in some states. Distilling alcohol was legal, then completely illegal, now it depends on the state.
Gambling is legal, when they are making money on it. They would make crypto illegal if so many politicians and their friends weren't making money manipulating the market.

That's it. The crypto hype captivated too many of people with power already. They have invested themselves. Exactly as you said, if crypto wasn't making people rich who have a say in the corporate or political world, it would probably be banned everywhere by now (it would still work, but it would be banned). Switzerland accepts cryptocurrencies for paying taxes. Well, what a surprise, isn't it? I am quite sure a ton of people living in Switzerland or a lot of corporations that have been set up there made a fortune with crypto. The government knows it and would never consider banning crypto.

Anyway, we got a bit off-topic here although I want to note that this did indeed relate to the harmful narratives governments and media can establish even about a celebrity who promotes cryptocurrencies, in this case Drake.

It might look off-topic if someone reads just this posts and not the ones that led to this conclusion. Drake did 2 things that are officially a no no for politicians. He gambled in public and won which will probably lead to many young people who look up to him to trying their luck because if he could win then it must be easy, right? He also used bitcoin which is this fake currency trying to undermine the position of the Dollar, the currency used by drug lords on Silk Road. The currency that people use to scam and launder money and he told all his followers on social media that it's good and you can make money betting it.

Since we don't see a big backlash of politicians comparing Drake to somebody who was caught beating a child or drowning a puppy, it must mean they're afraid of losing too many votes. Afraid of ending up as memes for young people to laugh at. It must mean they have more to lose than win from this one. Maybe Bitcoin is becoming stronger than we think.

[Fortify]

Yeah, I doubt Stake didn't pay for this promo since he clearly shared the bets on his social media accounts.
BTW, before sharing his bet slip he posted live roulette 200k win on Instagram story.
He made more than 2 bets over $500k CAD on his Super Bowl predictions according to the tweet by Stake marketing team:
https://twitter.com/Stake/status/1492045742894104579?s=20&t=QU9pgIo_yXgpS5najtx0Mw

The evidence is piling up and it should be criminal to do this sort of subversive advertising - he has a highly impressionable audience which is most likely why Stake.com went to partner with him in the first place. Chances are he never even placed a bet at all and these amounts he claims to walk away with could be carefully orchestrated payments to buy his endorsement. I don't even know or hear of any actions taken by a gambling regulator in America, does one even exist? Because this is prime material that needs investigating and these celebrities are stooping to new depths when they hide their affiliations like this. These people are already super rich but it seems they never have enough.

[madnessteat]

This is not only going to benefit the gambling platform Stake but also Bitcoin itself and crypto. This wager by Drake has made headlines in the news not only because of how large the amount is but also because it was made in Bitcoin.

Drake is a famous personality not only in the US but also in the whole world. This is definitely going to promote Bitcoin. Not to mention that Super Bowl is being followed by millions of people also.

If I am not mistaken this bet by Drake has already won.

Yes, the more public figures talk about cryptocurrencies and platforms that accept cryptocurrencies, the more widely they will be used. I am glad that recently many countries have come to the issue of regulation of cryptocurrencies instead of banning them and this is all thanks to people who spread information about the positive sides of blockchain technology and cryptocurrencies in many areas of our life.

[Mahanton]

This is not only going to benefit the gambling platform Stake but also Bitcoin itself and crypto. This wager by Drake has made headlines in the news not only because of how large the amount is but also because it was made in Bitcoin.

Drake is a famous personality not only in the US but also in the whole world. This is definitely going to promote Bitcoin. Not to mention that Super Bowl is being followed by millions of people also.

If I am not mistaken this bet by Drake has already won.

Yes, the more public figures talk about cryptocurrencies and platforms that accept cryptocurrencies, the more widely they will be used. I am glad that recently many countries have come to the issue of regulation of cryptocurrencies instead of banning them and this is all thanks to people who spread information about the positive sides of blockchain technology and cryptocurrencies in many areas of our life.

Whenever a certain thing do really gets attention then government would really take that involvement and its true that its better to set out some regulation rather than on banning it directly.
on which it would really be still having that choice or probabilities that it could be accepted and at the same time it would really spread up adoption or awareness about its existence.
It might come on different forms but it do still share up on the same concept or situations which is really on win situation.

[acroman08]

-snip

I am not trying to defend stake or anything but that Twitter post doesn't really prove anything. all I see in the comments is that they are accusing stake of paying drake to bet on their website. anyway, I am also not denying the possibility of drake being paid to advertise strake by publicizing his bets on the website.

[Saint-loup]

Is this is paid publicity? I'm just curious, but regardless, I still like the fact that a celebrity is not afraid of risking huge money using a crypto sportsbook. Stake is already popular in the crypto space, but with this publicity, for sure they will be more popular, and it will not end there as the whole crypto gambling world will benefit from this kind of publicity.

I am also interested in this and especially wonder how much such PR costs. But most likely the details (if this is PR and not a regular bet) we will not know soon. I think that like all major bookmakers, Stake has a VIP program to attract celebrities and there are many different bonuses for such actions as "show your bet on social networks". Therefore, most likely this is a real bet, but he received some bonuses for his activity.

That doesn't matter but as far as my own observation is concerned, it's a legit bet, and no such thing as paid publicity or partnership to promote the Stake platform. The Stake platform is now being more popular.

Don't tell BS just because you are promoting them in your signature and your avatar bro, you won't get any bonus from them for that believe me, they reserve them for their "friends" if you haven't noticed it yet. You should better read the link posted by Hamphser above, then you will understand that's an obvious PR marketing operation https://www.gamblingnews.com/news/new-viral-video-confirms-drake-enjoys-playing-online-roulette/

[KTChampions]

Yes, the more public figures talk about cryptocurrencies and platforms that accept cryptocurrencies, the more widely they will be used. I am glad that recently many countries have come to the issue of regulation of cryptocurrencies instead of banning them and this is all thanks to people who spread information about the positive sides of blockchain technology and cryptocurrencies in many areas of our life.

In my opinion, a ban on cryptocurrencies would be useful for their development  Now they are gradually turning into fiat and are completely under the control of banks and regulators. I do not like it. Better a tough war than strangulation in "friendly" hugs. By the way, as I understand it, Drake made bets using not cryptocurrency but Canadian dollars.

[dothebeats]

Possible that Stake paid Drake in order to post the slip on Twitter, but knowing Drake's gambling habits, it's not entirely unbelievable for him to place such a huge bet amount using bitcoin. Then again, what's suspicious about this is that most of his bets were on Stake, not only on the sports category but also on other games hosted by the platform. It's sneaky and also deceptive if ever, but legally there's nothing wrong if he didn't disclose it as an ad (I stand corrected on the legal part.)

[Rengga Jati]

Drake Wagered $1.3 million in super bowl bet using bitcoin

When Bitcoin is legal to use, gambling is also allowed, and gambling activities using Bitcoin have become commonplace, then isn't this familiar?
Yes, indeed, surely Bitcoin will become increasingly popular and have an even greater benefit value, especially in the gambling world.
The question is are they used to wagering such a large amount of money?
If this number is already used to them and it's common, then it is no longer surprising. We know how professional gamblers who play at a high level even spend a lot of money on one bet. Sometimes I myself feel surprised by the nominal.
But on the other hand, the positive side can be taken with the increasing use of Bitcoin, it will increase the value of Bitcoin itself