The famous Canadian rapper, Drake lost more than $200,000 worth of bitcoin on a Spanish Grand Prix bet.
The rapper showed off on instagram a bet of $234,000 worth of bitcoin on Ferrari’s driver Charles Leclerc to win the Grand Prix.
Drake placed the bet on the crypto gambling platform, Stake, marking his first Formula 1 bet.
During the first part of the tournament, Drake’s racer, Leclerc, was in the lead, and the prospects of him making a profit of about $350,000 worth of bitcoin were great.
However, due to the rising heat in Barcelona, Leclerc’s engine failed on the 27th lap.
Leclerc’s rival, Red Bull’s Max Verstappen, gained the lead and won the Spanish Grand Prix after selecting more suited tyres.
Drake is not a newbie to betting, especially betting crypto on sports. The rapper previously bet $1.26 million worth of bitcoin on the Super Bowl match between the LA Rams and the Cincinnati Bengals.
Canadian rapper Drake also bet on a UFC fight between Jorge Masvidal and Colby Covington. He bet $275,000 in Bitcoin, however he lost the bet and consequently all his money.
