Drake has suffered yet another betting loss, this time forfeiting a staggering $355,000 (£281,440) after Jake Paul emerged victorious against Mike Tyson in their highly talked-about match in Texas.

The Canadian rapper had confidently shared his wager online, backing the 58-year-old Tyson to overcome the much younger Paul, aged 27.

With odds of 2.85 for Tyson’s win, Drake stood to collect an impressive $1,011,750 (£802,116)—a potential profit of $656,750 (£520,672). However, his optimism was crushed when Paul was declared the winner during the live-streamed bout on Netflix.

This is not the first time the 38-year-old artist, whose real name is Aubrey Drake Graham, has lost a significant bet. During the 2022 World Cup final, he gambled $1 million (£790,000) on Argentina defeating France within regulation time.

While Argentina ultimately triumphed, it came during extra time, leaving Drake’s bet in ruins.

Similarly, he wagered $1.2 million (£950,000) on Jake Paul to beat Tommy Fury last year, only to see that slip away as well. Earlier this year, he staked $565,000 (£448,000) on Tyson Fury to defeat Oleksandr Usyk, which also ended in disappointment.

Despite these high-profile losses, Drake has had occasional wins, such as his $425,000 (£336,780) payout when Alex Poatan defeated UFC competitor Jamahal Hill in April.

His frequent betting escapades, often shared on Instagram, are tied to his endorsement deal with Stake, a cryptocurrency-based betting platform co-founded by Australian billionaire Ed Craven.

As a paid promoter, Drake likely doesn’t rely on his personal finances for these massive wagers.

READ ALSO: Jake Paul: From YouTube Star to Boxing Sensation

Stake, which operates under a license from Curaçao but is banned in the UK, allows users to bet with cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The platform has gained notoriety for its high-profile collaborations and controversies surrounding online gambling.

Drake wasn’t alone in feeling the sting of Tyson’s defeat. Irish boxer and entrepreneur Conor McGregor also lost big, blowing a $1 million double bet.

McGregor had confidently tweeted about his bets on Tyson and another fight, writing, “My two fight bets this weekend! Tyson KO, Jones Stoppage. $1 million double on.”

However, following Tyson’s loss, McGregor deleted the post, likely acknowledging the loss with a dose of silence.

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