Canadian rapper Drake is known to place hefty wagers on sports tournament results. He usually resorts to Stake, his partnered betting platform. His bet on the NBA finals failed to pan out in his favor, and he ended up losing 500k BTC.
Contrary to his bet, the Boston Celtics won the NBA finals with a 106-88 victory on their home court.
According to the screenshot shared by the rapper on Instagram, he would have been entitled to a $1.375 million payout if the Texas team Dallas Mavericks had won. Justifying his team choice, Drake asserted, “Dallas cause I’m a Texan.”
The rapper has also placed another $500k bet on the NHL’s Stanley Cup Final results. He stands by the Edmonton Oilers.
The match will be played in a few hours, and if his team wins, he will be bestowed with $1.02 million. However, he will lose another $500k if things go downhill for his team, pushing his aggregate loss to over $1 million.
Other developments from the crypto x sports intersection have also not been quite welcoming of late.
The UEFA EURO football tournament kickstarted on June 14 in Munich, Germany. Stepping into the tournament, Yuro 2024 was the market cap leader in the EURO-themed sports coin arena on Solana.
Right from creating a website to marketing the token widely on social media, to dishing out YURO NFTs, airdrops, and interesting event-based burn mechanisms integrated into the tokenomics, the team had it all covered.
Nevertheless, a few hours back, the team deactivated its Twitter handle, leading community members branding the project a rug pull.
The price of the token also registered several back-to-back red candles over the past few hours, nullifying most gains of early investors. At press time, YURO’s valuation was seen hovering around $0.00004644, down by more than 75% over the past 12 hours.
