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

[romero121]

It's not new, he is vlogging all his bets and most of them are high amounts. I won't be surprised about this kind of bet that he did for Jake Paul. I too am a victim of losing money from trusting my money for him. I really thought he won that fight but we cannot defy the judges' decision.
What can we learn about the bet of Drake?
Nothing much. If you cannot afford such an amount don't bet like him.
There must be a limit on how much we can afford to lose and on his stance, he can and it's not difficult for him to make that much money again considering his net worth.

Drake is making money by losing it from all these sponsorships. I wouldn't be surprised if one of his sponsors covered some of that loss directly or by giving him rakeback or some form of credit.

He's not going bankrupt from such a bet and this is already working for him because we're all talking about it. This means more twitter followers for him, more viewers on his streams, more sponsorship invitations from casinos because everybody wants to have a high roller on their side.

Having high rollers is not a big task. Every gambling platform have got good number of high rollers, but the same to be a popular one is important. If you and I make such bets and loss it, this wouldn't be a big discussion. When popular ones experience it, those will be kind of business. As said these high rollers were backed and they won't go bankrupt. Most of his bets used to be high and he used to make some tricky bets that makes people watch it. Previously it was the $2.6m

[Ryker1]

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.

It is true that losing money in gambling is not uncommon, and even high-profile celebrities like Drake can fall victim to the allure of the game.
It is important to remember that gambling can be addictive, and it is always a good idea to set limits and gamble responsibly.
While it is unfortunate that Drake lost a significant amount of money in one game --it is also worth noting that he has likely made a lot of money through his association with Jake's fights in the past. However, it is still important to exercise caution when it comes to gambling and not let losses spiral out of control. Gamble of what we can afford to lose --we are not all the same Drake.

[Fatunad]

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.

It is true that losing money in gambling is not uncommon, and even high-profile celebrities like Drake can fall victim to the allure of the game.
It is important to remember that gambling can be addictive, and it is always a good idea to set limits and gamble responsibly.
While it is unfortunate that Drake lost a significant amount of money in one game --it is also worth noting that he has likely made a lot of money through his association with Jake's fights in the past. However, it is still important to exercise caution when it comes to gambling and not let losses spiral out of control. Gamble of what we can afford to lose --we are not all the same Drake.

Lets take some snips from article about celebrities losses out their gambling bets.

American basketball legend Michael Jordan lost $1 million at a stake in a single golf game,
, Charlie Sheen reportedly lost $2.5 million in three months.

Source: https://faze.ca/look-at-celebrity-gambling-addiction/

We can spend all the money that we do have in gambling and its none others business on how much we do stake on it. 

[ChiBitCTy]

Absolutely love this.  I don't hate Drake or anything, but I think he's a bit obnoxious, but no where near as obnoxious as the Paul brothers are..so seeing them both lose was a big Win for me personally.  I had planned to put a few satoshis down on the game but forgot to do so.  I was actually going to pick Paul as I thought it was going to be another scripted fight, but finally he faces a decent challenger. 

Hope to see him continue to pick up his level of challengers.  If they both do so, I'll have a lot more respect for them.

[PX-Z]

There’s a lesson here, which is not to follow the hype and see the real picture of the match.
We know there’s too much hype with Jake Paul and going against the odds will be a big risk and fortunately those who bet for Fury and took the risk rewarded with the profit. This is not just a small amount to many but surely Drake can still afford this.

We are talking to drake here, he wont be as popular as a gambler if he just betting following only from the hype like what paul's fans did..
Probably this is a personal preference, he is known to bet paul's previous matches too, like it's a kind of support from him.

[AmoreJaz]

Absolutely love this.  I don't hate Drake or anything, but I think he's a bit obnoxious, but no where near as obnoxious as the Paul brothers are..so seeing them both lose was a big Win for me personally.  I had planned to put a few satoshis down on the game but forgot to do so.  I was actually going to pick Paul as I thought it was going to be another scripted fight, but finally he faces a decent challenger.  

Hope to see him continue to pick up his level of challengers.  If they both do so, I'll have a lot more respect for them.

tommy fury is a professional boxer, so yeah, this one was different from paul's previous fights. now, he tasted defeat and for sure, his camp will be asking for re-match. but this time, the purse split won't be in favour of paul, it wil be for fury. hope there will be no internal negotiations for the next fight, and let paul win so they can have trilogy. if fury will win again. now, the future of paul in boxing is quite screwed.

[qwertyup23]

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, I guess one lesson that we can deduce here is to bet on professional boxers instead of celebrity-turned-into-boxer type of scenario. In this case, Drake went to bet on Jake Paul, who I consider is a person who is never a professional boxer to begin with. In addition, maybe the gamble that Drake did is also some sort of publicity to attract attention and viewers to participate on the match.

Another lesson is also to consider betting on small amounts. The amount of $400,000 may seem significantly huge for us, but to Drake, it may be relatively small compared to his total net worth. That is why, only bet the amount that you are willing to lose in the process.

[Silberman]

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?

I doubt there is much to learn, if this was any other person then I think there could be several lessons that could be learned form this, but Drake is not only a multimillionaire, he is even a sponsor of stake so his losses are probably neutralized somewhat thanks to the agreement he has with them, probably the only thing that can be learned from this is that people should not try to imitate Drake on the size of their bets or soon enough they will face bankruptcy.

[vennali]

He probably gets paid that much or way more by gambling company to just gamble on it(wont name names ). It's a fairly bad bet to be honest and Jake just lost to a way below average MMA fighter. That's what is expected of him anyways.

[TravelMug]

He probably gets paid that much or way more by gambling company to just gamble on it(wont name names ). It's a fairly bad bet to be honest and Jake just lost to a way below average MMA fighter. That's what is expected of him anyways.

I can't remember who is the favorite in this fight though and it could be Jake Paul and if that is the case then I wouldn't say it's a bad bet.

It's just that Fury has more to offer in this fight, and even if Jake Paul scored a knockout down, still the judges had it for Fury. But I agree, since he is a ambassador by Stake and most likely he is being paid handsomely to promote their gambling site.

[tread93]

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?

So Drake Lost 400 mil. Tommy won the match and 8 mil. and Jake Paul lost the match but won 30 mil. Sounds about right hahah. Way to take the L jake, I bet you he planned all of this somehow. Had he have won maybe he would have won more. But to lose the whole match and still make 22 million more than the actual winner still baffles me! As far as for drake, sorry bruh! Catch that hot line bling next time!!!

[Plaguedeath]

So Drake Lost 400 mil. Tommy won the match and 8 mil. and Jake Paul lost the match but won 30 mil. Sounds about right hahah. Way to take the L jake, I bet you he planned all of this somehow. Had he have won maybe he would have won more. But to lose the whole match and still make 22 million more than the actual winner still baffles me! As far as for drake, sorry bruh! Catch that hot line bling next time!!!

Drake lost $400K or $400,000, not a million.

I'm not quite understand how Tommy Fury can earn $8 Millions and Jake Paul can earn $30 Millions, because there's no transparency after the fight. What we can know is based on the contract, it has been expected Paul will make a lot money than Tommy Fury regardless the result. It's not suprising because Jake Paul's name is big, I believe Tommy Fury is already happy to earn $7 Millions and he won the fight.

    The Jake Paul purse share is reportedly a guaranteed minimum of $3.2 million, plus 65% of pay-per-view revenues
    The Tommy Fury purse share is reportedly $2 million guaranteed and 35% of PPV money. Previously, Paul claimed that Fury was offered in the neighborhood of £2.5 million (just under $3 million) to accept the fight.
    Boxing Kingdom estimates that after final numbers are determined, Paul will have earned approximately $25 million, while Fury will earn about $7 million

[Oasisman]

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, the only lesson to learn here (which isn't applicable to him) is never put a bet that you can't afford to lose. Nevertheless, this is gambling so losses are inevitable as well as a win. Drake has millions if not billions on his account, that $400k for sure does not really affecting him financially. These bets coming from celebrities are just like showing support to their favourite fighter or a team in some sport and if they win, that's gonna be a bonus.

[borovichok]

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?

Losing high figures on bet is what anyone would prevent from happening. I can't even offered to lose 1 grand to bet due to the situation of the country, but a celebrity losing that is obviously nothing compared to the citizens. Drake is one of the famous Canadian rapper in the world with top trending songs in his playlists. Losing $400k on a bet is usually a normal thing for Drake, because this is not his first time he's losing such gigantic figure, there's something considered as the drake's curse, but he always pull money on some top clubs, like when he placed a bet on Barcelona in remarks to celebrating his 1 billion streams on spotify but the bluagrana loss the game. He will definitely hit the lotto next time.

[uche6215]

Drake losses what he can afford to lose, he has billions of dollars in his account, and losing $400 or more will not affect him anytime soon because he has the money and big assets.
To be a gambler is not to come and win or lose.

[ethereumhunter]

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, the only lesson to learn here (which isn't applicable to him) is never put a bet that you can't afford to lose. Nevertheless, this is gambling so losses are inevitable as well as a win. Drake has millions if not billions on his account, that $400k for sure does not really affecting him financially. These bets coming from celebrities are just like showing support to their favourite fighter or a team in some sport and if they win, that's gonna be a bonus.

That is a valuable lesson for everyone who wants to bet on gambling. But people don't seem to care about that and many of them bet over the limit and in the end, they lose a lot.

Gambling only has two choices, namely winning and losing and it seems Drake is aware of that but he still bets large amounts. And he also seems okay with losing a lot of money because I think he still has much more to bet. Even if it's a support of their favorite fighter or team, some people may follow Drake to bet big money because Drake is their favorite.

[NotATether]

Drake losses what he can afford to lose, he has billions of dollars in his account, and losing $400 or more will not affect him anytime soon because he has the money and big assets.
To be a gambler is not to come and win or lose.

Well hopefully Drake does not try to go out and recover the money by gambling more of it, because we all know how that is going to turn out... 

So Drake Lost 400 mil. Tommy won the match and 8 mil. and Jake Paul lost the match but won 30 mil. Sounds about right hahah. Way to take the L jake, I bet you he planned all of this somehow. Had he have won maybe he would have won more. But to lose the whole match and still make 22 million more than the actual winner still baffles me! As far as for drake, sorry bruh! Catch that hot line bling next time!!!

Drake lost $400K or $400,000, not a million.

I'm not quite understand how Tommy Fury can earn $8 Millions and Jake Paul can earn $30 Millions, because there's no transparency after the fight. What we can know is based on the contract, it has been expected Paul will make a lot money than Tommy Fury regardless the result. It's not suprising because Jake Paul's name is big, I believe Tommy Fury is already happy to earn $7 Millions and he won the fight.

    The Jake Paul purse share is reportedly a guaranteed minimum of $3.2 million, plus 65% of pay-per-view revenues
    The Tommy Fury purse share is reportedly $2 million guaranteed and 35% of PPV money. Previously, Paul claimed that Fury was offered in the neighborhood of £2.5 million (just under $3 million) to accept the fight.
    Boxing Kingdom estimates that after final numbers are determined, Paul will have earned approximately $25 million, while Fury will earn about $7 million

High PPV percentage will really only translate to big money if you also happen to be famous or a youtuber.

[Mauser]

what lessons can be learned by this event?

It's not new that Drake enjoys posting his betting slips online. I think for the last few Super Bowl matches he used to bet really big. Just this year he bet almost 1 million USD on the big NFL game and won. His profit on the big bet was around 500,000 USD, so he is totally fine to cover his loss on the Jake Paul fight. These big bets are really flashy for the average gambler and makes me a bit jealous. But we shouldn't look at the bet alone, we should take it into relation against the net worth of Drake. He is worth more than 250 millions USD, so a 400k USD bet is not really big for him. I don't think there is much to learn from this bet, he wins some and he losses some. The big loss would bankrupt any normal gambler, but for Drake it's only pocket change. He can always release a new song and make more millions.

[Finestream]

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.

For Drake, it was nothing since he is rich and he has a lot of money to gamble but for regular gamblers, surely that would create a negative life-changing experience. I would not bet into such huge amount where I think I would regret it after. Although for Drake, he has been into a lot of huge losses before so this is not new to him, after all he will again earn this funds from all his promotions and guestings. And if I’m right, he’s not gambling for profits alone, as he’s being entertained too by this fight.

[len01]

Drake isn't the only one who has lost a lot of money at gambling, there have been many gamblers who have lost millions of dollars before at gambling. besides, Drake has also won multiple times at gambling before, so I wouldn't be surprised.

the lesson we can take is, no matter how reliable a gambler is, in the end, he will also lose at gambling. because gambling is a place to have fun, not a place to multiply money in a row.
another lesson we can take from Drake defeat is use the money you can afford to lose. because no matter how smart and rich the gambler is, he will eventually lose at gambling