Drake Throws Down $1.3M in Bitcoin on Super Bowl

11 February 2022, 17:55 GMT+0000
Updated by Levy Prata
21 July 2022, 16:33 GMT+0000
In Brief
  • Canadian rapper Drake revealed he placed a $1M+ bet on this year's upcoming Super Bowl.
  • $470,000 was placed on the Rams winning the Super Bowl and approximately $790,000 on wide-receiver Odell Beckham Jr.
  • Known as the "Crypto Bowl," this year's match brings EToro, Crypto.com, and FTX to advertisements.
  • promo

Ahead of Sunday’s upcoming Super Bowl match between the Los Angeles Rams and Cincinnati Bengals, Canadian rapper Drake revealed he placed a $1.26 million bet on the game.

In his social media post, Drake shared that of the $1.26 million bet – $470,000 was placed on the Rams winning the Super Bowl and approximately $790,000 on its receiver Odell Beckham Jr.

The bet was placed on the crypto sports betting platform Stake, which also shared Drake’s publicly available bet.

Stake’s betting inventory continues to grow exponentially

Stake, which launched in 2017 is a crypto-only sports betting and casino platform that has since turned over $35 billion worth of bets. Currently, the platform accepts nine different cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, EOS, Ripple, Dogecoin, and Tron.

As part of Drake’s bet on Beckham Jr., the wide-receiver would need more than 62.5 receiving yards and over 0.5 touchdowns in the game for Drake to see any type of return on his investment.

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“All bets are in on the family,” Drake said in his Instagram post, which included screenshots of his bets placed on Stake.

Responding to Drake’s Instagram post, the wide-receiver replied – “It’s time.”

Odell Beckham Jr.’s embrace of BTC

Drake’s high-staked cryptocurrency bet on Beckham Jr. represents an exciting time for sports, including this year’s “Crypto Bowl” as it’s becoming commonly known as.

Back in November, the wide-receiver partnered with Cash App, promising to convert his entire NFL salary for the season into BTC, allocating $1 million worth of BTC to his fans. Based on this conversion, Beckham Jr. is positioned to make up to $4.5 million in just one year.

However, recent reports revealed that due to the recent fall of crypto prices, the NFL star allegedly earned 61% less than he ought to have after taxes, according to sports business analyst Darren Rovel.

While the Rams are the favorites to win this year’s Super Bowl, the Bengals have proven to be a force to reckon with this season.

Charles James, a long-time Bengals fan, also replied to Drake’s tweet, saying, “I’m Cincinnati! Burrow for the win. Call a reasonable number.”

This year’s Crypto Bowl is about to be wild

With the number of athletes, celebrities, and models embracing and promoting cryptocurrency and blockchain, this year’s Super Bowl will surely represent a historical shift in the traditional notion of sports and betting.

Due to the massive crypto exposure the event already has, referring to it as the “Crypto Bowl” doesn’t sound that off-putting. So far, three online services have already secured advertising for promoting its digital currencies – including eToro, Crypto.com, and FTX, so expect to see ads throughout the game.

Bud Light’s newest product and zero-carb beer, Bud Light Next will also take the stage during the game to promote its blockchain-based NFT.

For all the Star Wars fans out there, returning veteran actor Ewan McGregor, known for his role as Obi-Wan Kenobi in the prequel trilogy, returns to the screen in an Expedia ad, urging viewers to book more trips on the platform, rather than using “cryptocurrency” or “blockchain-based solutions.”

Crypto may not be as strong with the Force, according to Obi-Wan Kenobi

Earlier this week, Disney released its teaser photo for the upcoming premiere of its newest Obi-Wan Kenobi series that will debut on Disney Plus on May 25. McGregor excitingly returns alongside co-star Hayden Christensen, who portrayed both Anakin Skywalker and Darth Vader throughout the prequel trilogy.

Bud Light Next

This bet on the Super Bowl comes in the background of massive crypto exposure expected at the event. Already, FTX and Crypto.com have bought ad spaces at the Super Bowl. In addition, Bud Light NEXT also recently partnered with Nouns DAO and will be using the iconic Nouns glasses for its ad at the Super Bowl.

Bored Apes Yacht Club

It doesn’t end there. Two of the performers at the halftime show are well-known NFT collectors, and there are rumors that Bored Apes Yacht Club could be part of the event. Even the NFL itself would be giving limited NFTs to fans at the Super Bowl. Overall, the event won’t just be iconic for football fans but the crypto space.

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Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.