Drake Loses $400K Bitcoin Bet on Jake Paul’s Bout - page 3.

goaldigger

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Quote from: PX-Z on March 01, 2023, 11:40:10 AM

Quote from: bitbollo on February 28, 2023, 08:39:28 AM

what lessons can be learned by this event?

Lesson? You can't get any lesson in gambling aside from betting what you can afford to lose and stop gambling at all. Such amount is not a big deal to Drake he is known as risk taker, even losses millions last year yet he still betting till now. So a mere 400k won't affect his gambling activity for sure.

There’s a lesson here, which is not to follow the hype and see the real picture of the match.
We know there’s too much hype with Jake Paul and going against the odds will be a big risk and fortunately those who bet for Fury and took the risk rewarded with the profit. This is not just a small amount to many but surely Drake can still afford this.

Casdinyard

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Quote from: bitbollo on February 28, 2023, 08:39:28 AM

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong Sad

400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

This was never the first time Drake lost a lot of money over a single bet. I heard he's a high roller and always makes big bets whenever he gambles. He's also addicted to gambling too, so there's that. If someone living in a middle-class setting earning off of a minimum wage job were to emulate what he's doing, they'd literally burn through all their investments in a year, even lesser if they have less or no investments and savings at all. So, besides retaining proper discipline when gambling, it turns out that you can also be filthy rich, if you wanna be addicted to gambling that is. Kiddings aside, as I said earlier, this was not the first time he lost big, If i'm not mistaken he also made bets on Mcgregor amounting to millions of dollars only to end up whack, and other athletes that I forgot the names of.

wiss19

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To be fair that's nothing to him, I agree with that. Imagine having 100+ million dollars, and then you can see why 400k is nothing to you. Basically for all of us, it's like losing 4 dollars, you would not even care about it at all right? Why would you care losing 4 dollars, it's nothing, well it's the same for him.

Of course it is an amount that would make me richer than I have ever been in my entire life, in fact I have been working close to 20 years now and I bet my entire income combined in my whole life do not really worth 400k right now, it's at max 100k at most, and this guy lost it in a single bet, so I get why it looks big, but it's nothing to him in the end.

acroman08

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Quote from: PX-Z on March 01, 2023, 11:40:10 AM

Quote from: bitbollo on February 28, 2023, 08:39:28 AM

what lessons can be learned by this event?

Lesson? You can't get any lesson in gambling aside from betting what you can afford to lose and stop gambling at all. Such amount is not a big deal to Drake he is known as risk taker, even losses millions last year yet he still betting till now. So a mere 400k won't affect his gambling activity for sure.

just want to add to this that from what I have heard drake usually loses millions of dollars during his gambling stream and I've also seen an article mention that drake has wagered over $1Billion on stake.com in just 2 months(it is also one of the reasons why a lot of people think that the money he uses for gambling is sponsored by stake.com),

rhomelmabini

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Quote from: bitbollo on February 28, 2023, 08:39:28 AM

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong Sad

400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

I think $400k isn't that much to the likes of Drake and maybe we don't know if the bet was really from him or it's just a way to advertise the casino. Of course it wasn't the first time, there has been numerous public bets that has been wasted in the past. I think lesson learned is don't make it be available for public considering others might counter that, we don't know maybe Jake bet privately, it's just my opinion but he got nothing to lose on the match's profit, he could profit if he counters that one.

Cookdata

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I'm hoping the benefits allocated to Drake's Ambassadorship deal with Stake gambling because I wonder whether the games he stakes are covered by the casino as a form of promotion or just compensation for making use of the sportsbooks so that the rapper wouldn't worry to wager anything, the stake will either pay if he win or loss the expected odds that are associated with each of the game, I assume something like this is what give him the courage to wager/stake money as huge as this, that alone will go a long way to settle bills.

It could also be that Drake is doing this purposely for entertainment and advertisements sake, this is not the first time he has staked something huge, he did it in the World Cup which gather a lot of attention which makes me feel this is just part of the partnership.

PX-Z

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Quote from: bitbollo on February 28, 2023, 08:39:28 AM

what lessons can be learned by this event?

Lesson? You can't get any lesson in gambling aside from betting what you can afford to lose and stop gambling at all. Such amount is not a big deal to Drake he is known as risk taker, even losses millions last year yet he still betting till now. So a mere 400k won't affect his gambling activity for sure.

eightdots

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Quote from: Zlantann on March 01, 2023, 11:16:26 AM

Quote from: bitbollo on February 28, 2023, 08:39:28 AM

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong Sad

400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...
here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

If Drake can afford the gamble loss then there is nothing bad or special about his actions. It would be wrong if he keeps gambling and losing until it is clear that he is addicted to gamble. We have never heard any information that he has gone bankrupt, which means he can afford it. Even Jake Paul confirmed that the Canadian Musician can afford the loss because he has been winning bets on him, so this loss is no big deal. This is a proof that Drake is not new to Bitcoin gambling.

The lesson that can be derived from this story is that we shouldn't gamble more than we can afford to loose. Drake can afford to lose $400,000 but some of us might not recover from a $500 losses.

We may hear more news like this. Because we know that he has a habit of gambling and the amount he loses is a small amount of money for him. Still, a gambler needs to be more careful. He should also think about the hard days. As a result, it might be Drake who lost the money, but it could be us another time. We must be careful.

Zlantann

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Quote from: bitbollo on February 28, 2023, 08:39:28 AM

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong Sad

400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...
here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

If Drake can afford the gamble loss then there is nothing bad or special about his actions. It would be wrong if he keeps gambling and losing until it is clear that he is addicted to gamble. We have never heard any information that he has gone bankrupt, which means he can afford it. Even Jake Paul confirmed that the Canadian Musician can afford the loss because he has been winning bets on him, so this loss is no big deal. This is a proof that Drake is not new to Bitcoin gambling.

The lesson that can be derived from this story is that we shouldn't gamble more than we can afford to loose. Drake can afford to lose $400,000 but some of us might not recover from a $500 losses.

Hispo

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If there is a lesson to learn from this is that does not matter how much money you have or how much fame you have accumulated, in the end, we are all human beings and we cannot be always right on our bets and we must be mentally and financially prepared to lost money due to a bad prediction.

Nonetheless, considering we are talking about a person with much money, as Drake. I am sure he will be fine even after this loss.

348Judah

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Quote from: bitbollo on February 28, 2023, 08:39:28 AM

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong Sad

400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...

here more details:
https://news.bitcoin.com/rap-star-drake-loses-400000-bitcoin-bet-on-jake-paul-in-split-decision-loss-to-tommy-fury/

what lessons can be learned by this event?

There's nothing much to learn from his experience than two common lessons, the first is that he has acquired alot of fame, money abd reputation so loosing this shouldn't be a much concern for him because he has many means he cab use to get over the lost and recover it being a celebrity, the second one is that it will be stupid of any gambler who compared himself with him and having no reputation or means to recover and then gambles such big amount of money, this is not his first time i believe and he has a backup, but an ordinary gambler should take caution and never gambles if they can't afford the loss regardless of the amount involved.

Cling18

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Quote from: robelneo on March 01, 2023, 08:18:32 AM

Quote from: bitbollo on February 28, 2023, 08:39:28 AM

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong Sad

400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...

Tyson Fury also lost £100,000 and there are many more we do not know because this one has a lot of hype the promotion is even deceptive they make t appear that Tommy Fury lacks the right skill to beat Jake.

Quote

Tyson Fury LOSES £100,000 bet on brother Tommy to defeat Jake Paul in Saudi Arabia despite split decision win... after the Gypsy King's sibling FAILS to knock out the YouTube star who went the distance

Quote

what lessons can be learned by this event?

The lesson here is only to bet what you can afford to lose, there is really no guarantee in gambling or sports betting even if all the analysis points out who will win or favor to win based on performance.

This usually happens not just to famous personalities but also to ordinary people who are also huge bettors. They tend to believe the trend so they risk big amount of funds which I think isn't a good idea. Gambling is still gambling regardless of our personalities and financial status. We should still be mindful of the risks that we are taking. I agree that we should just bet what we can afford to lose or else we will regret things in the end.

mv1986

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Quote from: pixie85 on February 28, 2023, 02:49:53 PM

Quote from: bittraffic on February 28, 2023, 08:53:57 AM

However, Drake losing in gambling is not surprising anymore as he had lost thousands before this one. He isn't the only one who lost I should say, there were too many people just rooting for Jake and the bookies themselves seem to have confirmed it thru the odds.

$400k in one game, I could never get to do that even if I have millions. For Drake, I think it's forgivable. Drake had also made a lot of money many times through Jake's fights. The article says so.

Famous musicians like these lifestyles.

I've read once that 50cent went bankrupt despite making millions of dollars every year. He was living such a lavish lifestyle, buying so many houses he really couldn't afford and hosting parties all the time that he eventually run out of money.

Drake likes to gamble, we all know that Gamblers sometimes lose money and those who bet a lot lose a lot.

On his defense the fight was very close and Fury almost lost by being knocked down. A split decision means the fight could go both ways.

I knew Fury would win. Posted about it in the prediction thread but many people were making fun of this saying he can't jab and similar things. Drake should've listened to me LOL.

Good that you wrote your post because it actually made me do some research on Drake as I thought I read something about him collaborating with casinos. That would explain why those bets go public (I think he also tweets about it?). For a casino it doesn't matter whether he wins a bet in sports or loses it, the only thing that counts is that it is a HUGE bet such that the whole world is talking about it.

Now I found this website and it says that he wagered over 1 billion USD in two months. I have no clue whether that is true, but if that is true the 400k USD is what some here already thought anyway, it is tiny compared to what this guy is up to financially.

I just quote from the website:

"A Brief History Of His Biggest Bets

🤑 Total Wins: CA$101.9 million ($76.4 million)
👎 Total Losses: CA$39.5 million ($29.6 million)
From January to November 2022, our research discovered 18 notable wins and 11 notable losses."

The numbers stated there are so outrageous that it is actually hard to believe it's true.

robelneo

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Quote from: bitbollo on February 28, 2023, 08:39:28 AM

Another huge loss become public.
it seems that the famous Canadian singer has made a bet on Jake Paul that turned to be wrong Sad

400K USD has been wasted. It seems isn't the first time some public bets result in a loss ...

Tyson Fury also lost £100,000 and there are many more we do not know because this one has a lot of hype the promotion is even deceptive they make t appear that Tommy Fury lacks the right skill to beat Jake.

Quote

Tyson Fury LOSES £100,000 bet on brother Tommy to defeat Jake Paul in Saudi Arabia despite split decision win... after the Gypsy King's sibling FAILS to knock out the YouTube star who went the distance

Quote

what lessons can be learned by this event?

The lesson here is only to bet what you can afford to lose, there is really no guarantee in gambling or sports betting even if all the analysis points out who will win or favor to win based on performance.

DaNNy001

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Quote from: TopTort777 on March 01, 2023, 06:40:34 AM

Did Drake really made that bet, or this is just a collaboration (promotion) with stake.com? It is clear that Drake can afford to make such bets. But I think they had sort of an agreement with stake - he makes bets, if they lose, stake returns him money, if they win, he gets the amount he won. This is similar to bloggers who pretend they gamble with their own money, while in reality casinos top-up their accounts before streams, so they either earn from affiliate and dont care if they lose or win.

Strange theory, but I can't say its a lie or call the Truth. I think drake is one of few gamblers that actually gamble for fun, the guy just love flipping his cool cash in the most unlikely outcome in so doing he also causing social media waves which gets him favourable attention and in so maybe return back the losses. I personal feel drake just likes to gamble and since he has the money and the influence to make more money out of losses, you can actually the fella a perfect gambler.
No losses a WIN -WIN situation

TopTort777

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Did Drake really made that bet, or this is just a collaboration (promotion) with stake.com? It is clear that Drake can afford to make such bets. But I think they had sort of an agreement with stake - he makes bets, if they lose, stake returns him money, if they win, he gets the amount he won. This is similar to bloggers who pretend they gamble with their own money, while in reality casinos top-up their accounts before streams, so they either earn from affiliate and dont care if they lose or win.

Synchronice

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Fun fact: Tyson Fury places huge £100,000 bet on brother Tommy to knockout Jake Paul
£100,000 bet was more of a loss for Tyson Fury than $400K bet for Drake.

Quote from: YOSHIE on February 28, 2023, 09:42:03 AM

In the current world of boxing, Jake Paul is on the rise and viral, many gamblers are placing bets for Paul, the fact that he can be beaten by boxer Tommy Fury, who ended up being KO'd, Drake shouldn't have been so rash as to place a $400,000 bet, he should have thought his greed and optimism towards Paul could cost him all his money.

Conclusion? Are you serious? $400K is nothing for Drake and it's all marketing man, the fact that Drake bet on Jake Paul is marketing and generates money, even this article that he lost 400K is marketing and again, generates more money. You have to see another side, he lost $400K but actually gained more from this event.

Quote from: Hydrogen on February 28, 2023, 06:54:30 PM

Drake always posts his big money bets on UFC and boxing.

I think he almost always loses. Which is unfortunate for him.

But if true, it might be possible for gamblers to win money by making the opposite bets of whatever Drake posts on social media.

Drake's luck is sometimes funny. He bet on Argentina against France and Mbappé made it 3-3 at last minutes. He bet on Jake Paul and even lost at 50/50 fight. He lost bet on Jose Aldo at UFC 278 and lost again.
I don't gamble but really think to do exact opposite of what Drake bets on.

danherbias07

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It's not new, he is vlogging all his bets and most of them are high amounts. I won't be surprised about this kind of bet that he did for Jake Paul. I too am a victim of losing money from trusting my money for him. I really thought he won that fight but we cannot defy the judges' decision.
What can we learn about the bet of Drake?
Nothing much. If you cannot afford such an amount don't bet like him.
There must be a limit on how much we can afford to lose and on his stance, he can and it's not difficult for him to make that much money again considering his net worth.

ethereumhunter

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And one more person who lost a lot of money because of gambling, even though he is a person who has a lot of money, it still won't be good for him. The lesson we can take in this case is to keep trying to control the money used for gambling.

If he could control his money, he would not lose so much. But after all, he had a lot of money and could bet whatever he could. We can only watch it and try to learn from what happened so that we don't experience it in the future. That's the real danger of gambling and has been experienced by many people and not just celebrities and he should have learned from his mistakes but it seems he won't learn Grin

Cryptmuster

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Quote from: bittraffic on February 28, 2023, 08:53:57 AM

However, Drake losing in gambling is not surprising anymore as he had lost thousands before this one. He isn't the only one who lost I should say, there were too many people just rooting for Jake and the bookies themselves seem to have confirmed it thru the odds.

$400k in one game, I could never get to do that even if I have millions. For Drake, I think it's forgivable. Drake had also made a lot of money many times through Jake's fights. The article says so.

It doesn't matter how much money you have, but making such huge bets on one game is somehow too stupid. Unless he has so much money that he is indifferent to this defeat, or he is looking for situations in which he can get the maximum adrenaline. It seems to me that for such large bets, you need to choose some kind of events from professional sports, and in this case, just a promoted amateur event, nothing more...

Topic: Drake Loses $400K Bitcoin Bet on Jake Paul’s Bout - page 3. (Read 567 times)