Drake Loses $8 Million From Gambling in One Month

Drake’s love for high-stakes betting has once again made headlines — this time for the wrong reasons. On June 18, the Grammy-winning artist shared an Instagram Story showing he lost over $8.2 million in just 30 days on the crypto casino Stake, where he also serves as a brand ambassador.

The story, shared with his 142 million Instagram followers, revealed staggering numbers: Drake wagered $124.5 million over the past 30 days, resulting in $8.2 million in losses. In just the last seven days alone, he placed $50.2 million in bets and lost $5.8 million.

He then captioned the post:

“Gotta share the other side of gambling… Losses are so fried right now. I hope I can post a big win for you all soon cause I’m the only one that has never seen a max — these guys max once a week.”

Some of the bets Drake shared include:

• A $200,000 bet on the Oklahoma Thunder to beat the Indiana Pacers by 6–10 points

• A $600,000 wager on the Thunder to win straight up

Drake's Risky Betting History

This isn’t Drake’s first major gambling loss. Over the years, he’s built a reputation for making jaw dropping bets and not always with winning outcomes. Some notable examples include:

• $1.2 million on Jake Paul to defeat Tyson Fury in 2023

• $1 million on Toronto Maple Leafs to beat Florida Panthers

• $1 million on Argentina to win the 2022 World Cup in regular time

• $565,000 on Tyson Fury to beat Oleksandr Usyk

• $355,000 on Mike Tyson to defeat Jake Paul in 2024

• $210,000 on Taylor Fritz to win the US Open in 2024

That said, he’s also landed some big wins — including $2.3 million from a $1.15 million bet on the Kansas City Chiefs to win Super Bowl LVIII.

The Infamous “Drake Curse”

The “Drake Curse”, a long running internet meme, continues to haunt the rapper’s gambling image. The joke goes that any athlete or team publicly backed by Drake is doomed to lose.

From football stars, boxers to UFC fighters, there’s no shortage of stories tying losses to a selfie with the rapper. In 2019, AS Roma even joked on social media that their players were banned from taking photos with him.

However, there have been notable exceptions to the so-called 'Drake Curse.' A significant example is the Toronto Raptors, Drake's hometown team, who won the NBA title in 2019 despite his role as their official ambassador.

Growing Criticism Over Celebrity Betting & Stake Partnership

Drake’s frequent posts showing his betting slips have drawn heavy criticism, particularly regarding the influence of celebrities on gambling behavior and the importance of responsible play.

Critics argue that his content portrays gambling as a quick path to wealth and that the size of his wagers sets unrealistic expectations for everyday fans who may not fully grasp the risks involved.

His affiliation with the crypto casino Stake has also come under fire. Many point out that his promotional posts could drive users to the platform, which operates illegally in several countries, including the United States and more recently the United Kingdom.

His connection to Stake also draws transparency questions. Rumours suggest that his partnership with the platform is worth a nine-figure sum. Also, Stake may partly fund his betting activities.

Questions about transparency have also surfaced. Rumors suggest that Drake’s partnership with Stake is worth nine figures and that the casino may be partially or fully funding his betting bankroll.

This has led some to wonder whether the money he gambles is actually his own or if he’s simply playing the role of a high-stake bettor, not affecting his finances?