According to Decrypt, Canadian rapper Drake recently lost more than $1 million in Bitcoin betting in the NBA Finals and Stanley Cup Finals. Drake first bet on the Dallas Mavericks to win the NBA Finals and lost $500,000 in Bitcoin. Later, he bet on the Edmonton Oilers in the NHL Stanley Cup Finals and lost another $500,000 in Bitcoin.
Drake shared his betting slip on Instagram and said he chose the Dallas Mavericks because of his Texas connection, while the Oilers were a no-brainer. Cryptocurrency betting has grown rapidly in popularity in recent years, with many Bitcoin casinos and betting sites vying to attract users. In addition, political betting markets like Polymarket have also gained attention for high-stakes events such as the 2024 U.S. presidential election, with millions of dollars in trading volume.
