Drake Takes $8.2 Million Hit After Making $124.5 Million in Gambling Bets

Music superstar Drake lost over $8.2 million during a month of betting after placing $124.5 million in wagers. He shared proof through Instagram posts on June 19.

"Gotta share the other side of gambling... Losses are so fried right now... I hope I can post a big one for you soon cause I'm the only one that has never seen a Max these guys Max once a week," the rapper wrote on his Instagram stories, as reported by Daily Mail.

His betting spree happens while he works with online casino Stake in a $100 million endorsement deal. When the deal started in December 2021, he bet more than $1 billion in just eight weeks.

Drake, now 38 and a five-time GRAMMY Award winner, keeps betting big on sports. His most recent wager put $800,000 on the NBA Finals Game 6 between Oklahoma City and Indiana.

Meanwhile, medical experts warn about the risks associated with easy-access betting sites. "The expansion of legalized sports betting to always be at arm's reach has outpaced our ability to understand and address its public health consequences," said researcher Nimit Desai, as noted in Daily Dot News.

Since betting laws changed in 2018, searches for gambling addiction help shot up 61%. Online betting sites keep growing fast.

According to Sally Gainsbury of the Centre for Gambling Education and Research at Southern Cross University, "Due to the high level of accessibility, immersive interface and ease at which money can be spent, concerns have been expressed that internet gambling may increase rates of disordered gambling."

The "In My Feelings" rapper's luck often runs cold. He lost $1.25 million on one Maple Leafs game this year. Another $355,000 vanished on the Paul-Tyson match. Sports fans now joke about a "Drake Curse" when he bets on teams, but this hasn't deterred him from placing more bets.

His bets now spread across cricket, UFC, and boxing. If the Thunder win the Finals as Drake predicts, his latest $800,000 bet could bring in $1.7 million.

When Drake posted his losses, it sparked talks about famous people promoting betting.