Drake Loses $400K Bitcoin Bet on Jake Paul’s Bout

[Bananington]

what lessons can be learned by this event?

That celebrities can have gambling problems too and that they can also be wrong, and you should not make the mistake of thinking that due to their level that they know gambling well and then follow their games and predictions. Drake can afford to loose a huge amount because he has the means to get it back, but can you? The choices you make in gambling should be personal and not a replica of another persons opinion without research. Your decision and choices can be influenced by another persons opinion, but you have to be able to do some analysis on your own and not follow blindly.

[mv1986]

Losing $400k in a single game is an enormous sum of money that most people could never fathom losing, even if they have millions to spare. However, given that Drake has reportedly made a considerable amount of money in the past from betting on Jake's fights, it's possible to view his loss as more forgivable.and lessons that can be learned.it reminds us that gambling can be a risky business, and it's important to gamble responsibly. While there's always a chance of winning big, there's also a chance of losing big, and it's essential to be mindful of this when gambling.

There is a difference between having millions like two millions or millions like 260 millions when you place a 400k bet. I don't know much about Drake's betting activity, but it's possible that he is net positive with his bets? Whatever, it doesn't matter but saying that a 400k betting lose is painful to everyone in the same way is just not true. We only know about his betting losses. I am sure he has given some champagne parties that cost him more than 400k for the night!

[pixie85]

However, Drake losing in gambling is not surprising anymore as he had lost thousands before this one. He isn't the only one who lost I should say, there were too many people just rooting for Jake and the bookies themselves seem to have confirmed it thru the odds.  

$400k in one game, I could never get to do that even if I have millions. For Drake, I think it's forgivable. Drake had also made a lot of money many times through Jake's fights. The article says so.

Famous musicians like these lifestyles.

I've read once that 50cent went bankrupt despite making millions of dollars every year. He was living such a lavish lifestyle, buying so many houses he really couldn't afford and hosting parties all the time that he eventually run out of money.

Drake likes to gamble, we all know that Gamblers sometimes lose money and those who bet a lot lose a lot.

On his defense the fight was very close and Fury almost lost by being knocked down. A split decision means the fight could go both ways.

I knew Fury would win. Posted about it in the prediction thread but many people were making fun of this saying he can't jab and similar things. Drake should've listened to me LOL. 

[Wakate]

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong
400K USD has been wasted. It seems isn't the first time some public bets result in a loss ... 

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

any it looks like, I will always be happy for him because he is a strong gambler that doesn't gamble less. He knows what he is doing and I know he's going to get money back soon. Drake has had several positive games that gave him a good profits and not today that he will feel sad for ordinary $400k when he is used to better with bigger funds.
I could remember one if his bet that he lost going to $1m and that do not shake him or make him to be panic like many gamblers will do if they loses that kind of fund. Let's keep doing what is making us happy and giving us joy.

[Fortify]

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong
400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...  

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

Based on the judges scoring, the fight was a pretty close one and could easily have gone the opposite direction. I don't know why anyone would feel sorry for Drake though because he wins either way, he's already getting sponsorship money from sportbooks just to associate his name with gambling and he has such a huge income it makes barely a dent on his overall wealth. There is not much to learn, some super rich celebrity wants a bit more attention and to get his name in the media, he announces these type of things and the press does all the rest. If he had won it's likely he would have kept quiet and made at least double his money back. He's been a bit shady in the past when it came to disclosing sportbook sponsorship.

[btc_angela]

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong
400K USD has been wasted. It seems isn't the first time some public bets result in a loss ... 

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

Well he is a whale, so I guess $400k is not a lunch money for him. And if I'm not mistaken, he has bet more than that before. Lessons is that we really don't know who's going to win in that match, or in any particular match.

The fight is just hype, and he was just on the wrong side.

The question is, if Drake is willing to double up with his bet if the two will have a rematch, or go with Tommy Fury. It will be funny if he changes and bet on Fury and then he losses.

[Yaunfitda]

what lessons can be learned by this event?

That celebrities can have gambling problems too and that they can also be wrong, and you should not make the mistake of thinking that due to their level that they know gambling well and then follow their games and predictions. Drake can afford to loose a huge amount because he has the means to get it back, but can you? The choices you make in gambling should be personal and not a replica of another persons opinion without research. Your decision and choices can be influenced by another persons opinion, but you have to be able to do some analysis on your own and not follow blindly.

Yes, they have problems, however, this celebrities have money to burn, so we can't say if they are really addicted or not.

And he has bet on several sports if I'm not mistaken, and he either win or lose, just like regular gamblers here in our community. I guess the lesson is that we should gamble money that we can afford to lose, from celebrities to just average joe gamblers. It's too bad though if there is some gamblers who just blindly follow the bet of their celebrities.

[Fivestar4everMVP]

Drake is a big shot in both the music and gambling industry alike, the amount of money mentioned here might seem so large for us but to him, this is probably like someone who lost like $40 in a bet, he's not gonna feel it i presume.

But then, the lesson here is that, gambling involves risk, and there are time when you feel that you got your game one and absolutely sure of a win, only to discover in the end how wrong you were, i believe this is why its called gambling, and we are always advised not to ever bet an amount we can not afford to lose.

And to correct a notion from the OP, Drake did not waste this money, the money only exchanged hands, which I believe is not a waste.

[stomachgrowls]

what lessons can be learned by this event?

That celebrities can have gambling problems too and that they can also be wrong, and you should not make the mistake of thinking that due to their level that they know gambling well and then follow their games and predictions. Drake can afford to loose a huge amount because he has the means to get it back, but can you? The choices you make in gambling should be personal and not a replica of another persons opinion without research. Your decision and choices can be influenced by another persons opinion, but you have to be able to do some analysis on your own and not follow blindly.

Yes, they have problems, however, this celebrities have money to burn, so we can't say if they are really addicted or not.

And he has bet on several sports if I'm not mistaken, and he either win or lose, just like regular gamblers here in our community. I guess the lesson is that we should gamble money that we can afford to lose, from celebrities to just average joe gamblers. It's too bad though if there is some gamblers who just blindly follow the bet of their celebrities.

It is really just that people are really that too mindful on someones money on how it should be spend or on how it should be used without even trying out to realize that it is someones money and they could do whatever

they do want.It is really just that there are people who do make out huge bets something like this on which it would really be that raising up some questions or things in mind but thats how they do make up bets.
They do have the finances and capabilities on doing so.Also its not on first time on Drakes losses and for sure there are lots of more which is bigger than this.

We know on how popular Drake is and making up some cash or income wont really be that a problem and also its his money and its none of our business on how he would be using or spending it.

[yahoo62278]

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong
400K USD has been wasted. It seems isn't the first time some public bets result in a loss ... 

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

The lesson is only gamble what you can afford to lose. Drake is up over the last few months sports betting I believe. He could afford the loss. I don't think 400k bothered him 1 bit.

[OgNasty]

I think a lot of people likely lost money on the Jake Paul loss.  I lost a bit.  Nothing I care about, but nobody likes to lose, right? 

As for Drake losing $400K, I doubt that matters at all to him.  Likely he's betting with house money from his advertising deal anyway so I honestly don't think he cares even a little bit. 

The big winner of the night remains Jake Paul though...  They're saying he's going to take home $30,000,000.00 for his role in the fight, while Tommy is expected to earn about 1/4 of that.  I'm guessing they'll do a rematch, unless Tommy decided to fight KSI instead.  In any rematch I would expect to see Tommy get a bigger cut of the prize, as he's showed he is now the better fighter.

[eaLiTy]

~
Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong
400K USD has been wasted. It seems isn't the first time some public bets result in a loss ... 
what lessons can be learned by this event?

It is not a secret that Drake is a huge gambler and usually looses and that will gain media attention, right now he is having a tie up with stake and most probably only placing bets with them and hence he might be getting back some of the money back for promoting their site and it will gain them more attention among his fans and hence these sort of promotions even after a loss  .

[Mahanton]

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong
400K USD has been wasted. It seems isn't the first time some public bets result in a loss ... 

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

The lesson is only gamble what you can afford to lose. Drake is up over the last few months sports betting I believe. He could afford the loss. I don't think 400k bothered him 1 bit.

Being a canadian rapper,singer and actor then these amounts is just a mere dust or simply could really be earned on easiest way as possible excluding into those other income sources he do have.
Let alone into those partnerships with gambling site which its never been that a huge deal or issue for him to lose this big.Its true that it is really just an amount that couldn't bother him.
He does have other income sources and this amount isnt something that he would not able to move on or would really be that something a real deal.

[yahoo62278]

I think a lot of people likely lost money on the Jake Paul loss.  I lost a bit.  Nothing I care about, but nobody likes to lose, right? 

As for Drake losing $400K, I doubt that matters at all to him.  Likely he's betting with house money from his advertising deal anyway so I honestly don't think he cares even a little bit. 

The big winner of the night remains Jake Paul though...  They're saying he's going to take home $30,000,000.00 for his role in the fight, while Tommy is expected to earn about 1/4 of that.  I'm guessing they'll do a rematch, unless Tommy decided to fight KSI instead.  In any rematch I would expect to see Tommy get a bigger cut of the prize, as he's showed he is now the better fighter.

Likely the correct analysis here. I was talking with a buddy of mine and he is thinking this is going to be a big money grab for both fighters. They will have a Paul vs Fury 2 where Paul will win and set up a 3rd fight for huge money. I have no clue if he is correct, but it makes sense.

[TimeTeller]

I think a lot of people likely lost money on the Jake Paul loss.  I lost a bit.  Nothing I care about, but nobody likes to lose, right?  

As for Drake losing $400K, I doubt that matters at all to him.  Likely he's betting with house money from his advertising deal anyway so I honestly don't think he cares even a little bit.  

The big winner of the night remains Jake Paul though...  They're saying he's going to take home $30,000,000.00 for his role in the fight, while Tommy is expected to earn about 1/4 of that.  I'm guessing they'll do a rematch, unless Tommy decided to fight KSI instead.  In any rematch I would expect to see Tommy get a bigger cut of the prize, as he's showed he is now the better fighter.

Likely the correct analysis here. I was talking with a buddy of mine and he is thinking this is going to be a big money grab for both fighters. They will have a Paul vs Fury 2 where Paul will win and set up a 3rd fight for huge money. I have no clue if he is correct, but it makes sense.

Many were indeed were rooting for Jake Paul in that match as he had no loss yet at that time.
However, he was fighting a Tommy Fury who is a professional boxer, so there's no surprise if Paul lost to him.
A re-match would be a good money making event, so yes, definitely both camps will push thru the re-match.
But don't know if there will be trilogy for this, let's see first the second bout and let's go from there.

[livingfree]

what lessons can be learned by this event?

IMHO, everyone knows the lesson about betting only what we can afford to lose which is the same lesson that we're saying about investing. As for Drake, he's got a lot of money to spend in everything which includes gambling.

The match was of a surprise I guess since many have thought that it would be Jake Paul that shall win the bout but it ended up with an opposite result.

This loss of Drake might just only cost him worth of one twitter post from his sponsorship.

[BitcoinHunt3r]

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong
400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...  

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

The first lesson is gambling according to the budget   we might consider it a big amount but for him maybe only income in a month, who knows
Besides, he is part of stake.com so he must have another advantage obviously they have mutually beneficial agreements that we don't know
But from here at least we can see other positive things that he does not just post a winning bet which can make people inspire to gamble
He also posted losing bets that made people think that in gambling there was a risk of losing.

[aioc]

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong
400K USD has been wasted. It seems isn't the first time some public bets result in a loss ... 

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

Drake just got even according to Paul

he has won a lot more money betting on me before. He’s probably about even now. Sorry, Drake, I’ll get that win in the rematch,” the fighter added.

This is gambling even if analysis tells us that Jake Paul is getting better and Tommy Fury's skill is not on a level of real boxers you can still go wrong, the fight is close it could go either way but Tommy is good at accumulating points, he got it as a long time amateur boxers, in their rematch if it happens, maybe things could be different.

[Hydrogen]

Drake always posts his big money bets on UFC and boxing.

I think he almost always loses. Which is unfortunate for him.

But if true, it might be possible for gamblers to win money by making the opposite bets of whatever Drake posts on social media.

[n0ne]

Nothing to learn. This loss doesn't gonna affect him in any means. Did his betslip was published earlier. If so more people would've chosen Jake Paul to win the match. The match might have generated good money to the gambling house. Already he have lost big bets as well as won it. He's a whale gambler and also a brand ambassador which doesn't make him learn than promote.