Drake loses huge $355k bet as Jake Paul beats Mike Tyson
Drake has suffered a massive loss after betting $355,000 (£281,440) on Mike Tyson to defeat Jake Paul in their controversial fight in Texas. The Canadian rapper, known for his high-profile gambling, publicly shared his wager online, expressing confidence in Tyson’s victory. At the time of the bet, the odds for Tyson’s win were set at 2.85, which meant if he had won, Drake could have pocketed a massive $1,011,750 (£802,116), a profit of $656,750 (£520,672). However, after Paul was announced as the winner, Drake’s bet went down the drain.
This latest loss adds to Drake’s growing list of high-stakes gambles. In 2022, the rapper lost $1 million (£790,000) when he bet on Argentina to defeat France within 90 minutes during the World Cup final—though Argentina ultimately won, it was after extra time. Last year, he lost $1.2 million (£950,000) after betting on Paul to beat Tommy Fury, and earlier this year, he placed $565,000 (£448,000) on Tyson Fury to beat Oleksandr Usyk in their heavyweight bout, another bet he lost.
Despite these losses, Drake occasionally enjoys success with his bets. In April 2023, he won $425,000 (£336,780) when Alex Pereira, also known as Poatan, defeated UFC fighter Jamahal Hill. Drake’s betting habits often showcased on his Instagram account, are part of his endorsement deal with the online betting platform Stake, which specializes in cryptocurrency-based gambling. The stake is co-founded by Australian billionaire Ed Crave, and although Drake shares his bets online, it’s likely that he isn’t using his own money for these wagers, as he’s a paid promoter for the platform.
Drake isn't the only celebrity to suffer a major setback after the Tyson-Paul fight. Irish boxer Conor McGregor also lost a significant wager. He had placed a $1 million double bet on Tyson to win by knockout and for another fighter, Roy Jones Jr., to win by stoppage. After Tyson's loss, McGregor deleted his tweet announcing the bet.
Following the fight, Jake Paul, who won in a decision that surprised many, praised Tyson, calling him a "legend" and "the greatest to ever do it." Paul expressed his respect for Tyson, acknowledging that without him, their fight wouldn't have been possible.
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