Drake’s high-stakes gambling habit has taken a costly turn. On June 18, the rapper posted an Instagram Story showing over $8 million in losses over the past month at the crypto casino Stake, where he serves as a brand ambassador.
The story, shared with his 142 million followers, revealed jaw-dropping figures, including that Drake wagered $124.5 million in the last 30 days, losing $8.2 million. In the past week alone, he wagered $50.2 million, losing $5.8 million.
He then addressed his followers:
“Gotta share the other side of gambling… Losses are so fried right now. I hope I can post a big win for you all soon cause I’m the only one that has never seen a max these guys max once a week.”
He also shared some recent bets, which include a $200,000 wager on the Oklahoma Thunder to beat the Indiana Pacers by 6-10 points and a $600,000 bet on the Thunder to win straight up on the road.
The June 18 stories are not an isolated incident where Drake posts some of his bets. The rapper is famous for placing substantial amounts, often ending up on the losing end. Some examples of large bets resulting in losses include:
Of course, the rapper has also won some sizeable bets. That includes a $1.15 million bet on the Kansas City Chiefs to win Super Bowl LVIII, earning him over $2.3 million.
Drake’s fortunes have also been associated with more than just his bets. The “Drake Curse” is a long-running online joke suggesting that athletes or teams that Drake publicly supports or endorses lose shortly after.
There are numerous examples of soccer stars, UFC fighters, boxers, and football players taking photos with the rapper and losing afterward. In 2019, Italian soccer club AS Roma even joked that club players are prohibited from posting pictures with Drake.
That said, there have been examples of curse breakers. That includes his hometown Toronto Raptors winning the NBA title in 2019, despite the rapper acting as an ambassador.
Drake’s photos of betting slips have also sparked considerable criticism surrounding the influence of celebrities and responsible gambling.
Critics argue that his posts show gambling as a get-rich-quick scheme and that his large bets create unrealistic expectations for ordinary followers who do not understand the risks associated.
His posts have also faced scrutiny due to his connection with crypto casino Stake. Critics point out that his posts can lead fans to gamble at the platform, which is illegal in many countries, including the US and, recently, the UK.
His connection to Stake also draws transparency questions. Rumours suggest that his partnership with the platform is worth a nine-figure sum. Also, that Stake at least partly funds his bankroll.
That raises doubts about whether the money he bets is actually his own. Or is he simply playing a role as a high-roller influencer, not affecting his finances?
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