Topic: Drake Wagered $1.3 million in super bowl bet using bitcoin - page 8. (Read 1348 times)

I am not trying to defend stake or anything but that Twitter post doesn't really prove anything. all I see in the comments is that they are accusing stake of paying drake to bet on their website. anyway, I am also not denying the possibility of drake being paid to advertise strake by publicizing his bets on the website.

Whenever a certain thing do really gets attention then government would really take that involvement and its true that its better to set out some regulation rather than on banning it directly.
on which it would really be still having that choice or probabilities that it could be accepted and at the same time it would really spread up adoption or awareness about its existence.
It might come on different forms but it do still share up on the same concept or situations which is really on win situation.

Yes, the more public figures talk about cryptocurrencies and platforms that accept cryptocurrencies, the more widely they will be used. I am glad that recently many countries have come to the issue of regulation of cryptocurrencies instead of banning them and this is all thanks to people who spread information about the positive sides of blockchain technology and cryptocurrencies in many areas of our life.

The evidence is piling up and it should be criminal to do this sort of subversive advertising - he has a highly impressionable audience which is most likely why Stake.com went to partner with him in the first place. Chances are he never even placed a bet at all and these amounts he claims to walk away with could be carefully orchestrated payments to buy his endorsement. I don't even know or hear of any actions taken by a gambling regulator in America, does one even exist? Because this is prime material that needs investigating and these celebrities are stooping to new depths when they hide their affiliations like this. These people are already super rich but it seems they never have enough.

It might look off-topic if someone reads just this posts and not the ones that led to this conclusion. Drake did 2 things that are officially a no no for politicians. He gambled in public and won which will probably lead to many young people who look up to him to trying their luck because if he could win then it must be easy, right? He also used bitcoin which is this fake currency trying to undermine the position of the Dollar, the currency used by drug lords on Silk Road. The currency that people use to scam and launder money and he told all his followers on social media that it's good and you can make money betting it.

Since we don't see a big backlash of politicians comparing Drake to somebody who was caught beating a child or drowning a puppy, it must mean they're afraid of losing too many votes. Afraid of ending up as memes for young people to laugh at. It must mean they have more to lose than win from this one. Maybe Bitcoin is becoming stronger than we think.

News of Drake's victory spread everywhere and it could make many people look and want to find out the truth.
And people will see Stake as one of the popular sites using crypto and Drake betting on that site.
That will make many people visit Stake.com and try to bet there.
It can be a great means of promotion for Stake because they can get a chance to get more members who will gamble on their site.

If cryptocurrencies are bad influence because it is used for gambling, the fiat that are used for gambling (I mean the countries that support gambling) are also bad influence. This should not be the reason and not a good reason to deem cryptocurrencies bad. What is valuable is what can be used for gambling, like properties and money. Cyypto fall into being even more than money, it is valuable for gambling as its ease of its online use.

That's it. The crypto hype captivated too many of people with power already. They have invested themselves. Exactly as you said, if crypto wasn't making people rich who have a say in the corporate or political world, it would probably be banned everywhere by now (it would still work, but it would be banned). Switzerland accepts cryptocurrencies for paying taxes. Well, what a surprise, isn't it? I am quite sure a ton of people living in Switzerland or a lot of corporations that have been set up there made a fortune with crypto. The government knows it and would never consider banning crypto.

Anyway, we got a bit off-topic here although I want to note that this did indeed relate to the harmful narratives governments and media can establish even about a celebrity who promotes cryptocurrencies, in this case Drake.

I would say that it is possible, only Stake can answer that for us. They have been in crypto industry for so long that maybe they really attracted famous individuals to bet on their platform. Or maybe they contacted Drake to bet on them with something in return. Anyhow, for sure this is a big exposure for the whole crypto market seeing it being covered in the media for the biggest sporting events in the US.

That is correct, both of them made it famous because it is extremely large and also because it is bitcoin. But, has anyone considered whether that is really Drake's money or whether it is for stake.com, given that it was sponsored? I'm not sure about this, but whether or not it is sponsored, it has a significant impact on the site as a whole, as well as the bitcoin community. Bitcoin is becoming increasingly well-known, thanks to the fact that celebrities are already talking about it.

This is not only going to benefit the gambling platform Stake but also Bitcoin itself and crypto. This wager by Drake has made headlines in the news not only because of how large the amount is but also because it was made in Bitcoin.

Drake is a famous personality not only in the US but also in the whole world. This is definitely going to promote Bitcoin. Not to mention that Super Bowl is being followed by millions of people also.

If I am not mistaken this bet by Drake has already won.

Particularly on Drake betting on Bitcoin, I don't see media will go through far by saying bad things about it. There's no sense in doing that since it's not harmful after all. Not even a big threat to whatever media likes to point out.

Stake is also a popular crypto-betting company that is running for years. The reputation is solid and the media won't be bothered to take a scoop out of that.

Drake just contributes more to the awareness of using Bitcoin and to the popularity of Stake.

I'm seeing this as a way to advertise the Stake platform itself and not the crypto in general. It's not new that Bitcoin or any other cryptos are now being used on gambling events such as this big Super Bowl event.

And looks like Drake even started this bitcoin betting even before but not just disclosing it in public like when the Toronto Raptors won an NBA Championship last 2019. The Raptors' odds to win on that series is worth to bet and I even won decently during that time.

^
If they want to make that narrative they can. Governments switch stances as they go. One day they like and support a country, the other they're against it. They support a law, they vote to remove it. In history you had a lot of these cases. Weed was legal, then illegal, now partially legal in some states. Distilling alcohol was legal, then completely illegal, now it depends on the state.
Gambling is legal, when they are making money on it. They would make crypto illegal if so many politicians and their friends weren't making money manipulating the market.

You are right, but things are all too often not about the truth, but about establishing/established narratives. If the governments want to achieve a certain goal, there are always media that will accommodate politicians' goals and ideas. That's essentially the case in almost any country in the world. Someone I know said: governments and central banks are talking about banning Bitcoin because it is sooooo dangerous, but they allow young grown ups and almost kids to get wasted, go into a casino and literally lose everything they have. They could even gamble with stolen money from their parents, nobody would ask. Before they ban Bitcoin (which is soooo dangerous and speculative), why not ban gambling, especially when alcohol is involved?

I think the guy has a serious point here. Really, I can buy a digital coin that I researched well and that they want to forbid, but they do allow me to get wasted, go into a casino and place 10,000 USD on a color in a roulette game... lol... Another argument they bring up is that people borrow money to invest into crypto. Well, they have a point there, that is dangerous. But I can do a thousand things with the money I borrowed that are worse than investing into crypto.

Things aren't supposed to make sense, they are supposed to serve the strongest lobbies' interests within our society. I am glad Bitcoin by now has a lobby that is able to compete.

I think there isn't anything bad the media can say about bitcoin or gambling due to the bet made by Drake. As you said, fiat is also used for gambling, so it's not an exclusivity of crypto universe, what means people will gamble anyway even if bitcoin didn't exist. And since big sums of money can't be moved anonymously through bitcoin on most gambling platforms, the media can't say it's money laundering too, because it's possible to easily investigate in case of suspicion.

I believed it's not the first time that the famous Drake involved in crypto-betting. It's just that, it was highlighted recently because he stakes an amount that is something out of ordinary. That was really an insane amount that even a gambling whale won't risk.

I don't see it as a way of advertising crypto since it's just a normal thing now that someone popular is using bitcoin to place a bet on a big event like Super Bowl.


That doesn't matter but as far as my own observation is concerned, it's a legit bet, and no such thing as paid publicity or partnership to promote the Stake platform. The Stake platform is now being more popular.

Yeah, I doubt Stake didn't pay for this promo since he clearly shared the bets on his social media accounts.
BTW, before sharing his bet slip he posted live roulette 200k win on Instagram story.
He made more than 2 bets over $500k CAD on his Super Bowl predictions according to the tweet by Stake marketing team:
https://twitter.com/Stake/status/1492045742894104579?s=20&t=QU9pgIo_yXgpS5najtx0Mw

Media will always have something bad to say, they wont stop from doing this what good here is that, many celebrities are into Bitcoin now, and Drake just made a good return and increase his Bitcoin holdings. I’ve watched the game and that was a great one, many celebrities goes to the stadium to watch, I’m sure many of them placed their own bet as well. Gambling maybe bad in the eye of the others, but that’s alright they can’t hurt Bitcoin by that since fiat money are also being used for gambling.

We don't know what's the agreement if there is, but the fact that a celebrity use stake.com, that simply tells they are a legit sportsbook and they can accommodate huge bet, with that said, I'm sure it will help bettors to gain confidence in using the site, it's a win-win situation for the site and Drake if he receives a bonus with this promotion.