Drake Loses $275K Bitcoin Bet

Drake is one the hottest pop acts in the industry. The Canadian singer has a massive fanbase across the globe. Recently, he ended up losing a huge amount of money after placing a bet.

Drake lost more than a quarter million dollars after Colby Covingto ended up being the superior mixed martial artist. The singer placed his bet on Jorge Masvidal, but it didn’t quite turn out as Drake hoped it would.

The “In My Feelings” hitmaker lost nearly $275,000 in Bitcoin, the largest cryptocurrency, after placing a bet on American professional mixed martial artist Jorge. Drake expected Masvidal to defeat Colby Covingto during a thundering UFC 272 event that took place on Saturday on the T-Mobile arena in Las Vegas.

It’s to be noted, Drake bet on the underdog and if Jorge came out on top during the match, Drake could have walked away with more than $700,000. It’s certainly an eye-popping number. Sadly for the superstar rapper, the upset didn’t happen, and Covingto won the grudge match by unanimous decision after dominating every round.

This is not the first time that Drake puts his Bitcoin on the line. In February, he raked in $381,000 in Bitcoin after betting $1.3 million on Super Bowl LVI. The Los Angeles Rams won against the Cincinnati Bengals, which allowed the rapper to net easy money.

Meanwhile, check out MMAFighting.com’s tweet below.

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