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Tuesday, March 28, 2023

This is What Happened with Drake’s $1.3M Bitcoin Bet on the Super Bowl

Drake’s $1.3M Bitcoin Bet on the Super Bowl – Drake, a Canadian rapper known to music fans as Aubrey Drake Graham, placed a $1.26 million bitcoin wager on the Super Bowl match between the Los Angeles Rams (LA Rams) and the Cincinnati Bengals. He seemed to have good foresight, as he made $300,000 after the referee blew the final whistle.

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Every year, millions of Americans tune in to watch the Super Bowl championship game. The game was viewed by almost 90 million people in the United States alone. The bookmakers take advantage of the buzz to offer a variety of bets. “What will the coin toss fall on — heads or tails?” “Will a player propose after the game?” “Which crypto firm commercial will air first?”.

Drake, the well-known musician, did not predict such unusual happenings. Instead, he bet $472,000 on the Los Angeles Rams to win the Super Bowl, $400,000 on Odell Beckham Jr. (OBJ) to score a touchdown, and $400,000 on the athlete to have at least 62.5 receiving yards.

Also Read: Bitcoin Hashrate Hits Another Record Peak Amid Anemic Price Action

Los Angeles won by a score of 23-20. Taking into account the coefficient, Drake was able to cash out more than $240,000 in Bitcoin. OBJ, the star of the Los Angeles Rams, also grabbed the game’s first touchdown, earning him $453,000 in the biggest digital asset.

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Drake’s $1.3M Bitcoin Bet on the Super Bowl – Unfortunately for Drake, Odell Beckham Jr. left the game in the fourth quarter with an injury and was unable to achieve more than 62.5 receiving yards. As a result, basic math reveals that the Canadian singer made $300,000 in BTC from his Super Bowl predictions.

Entain Eyeing the Metaverse

Sports betting organizations, like many other firms, have set their sights on the cryptocurrency market. Entain, an international gambling organization, is one such example.

The British company said at the end of January that it will invest $133 million in a worldwide innovation center focusing on entertainment experiences in the metaverse. It intends to fund start-ups and develop applications for non-fungible tokens in particular (NFTs).

Also Read: Russian Regulators Find Common Ground – Bitcoin Can’t Be Used for Payments

Jette Nygaard-Andersen, Entain’s Chief Executive Officer, announced that the company’s innovation hub will be called Ennovate and will open in March of this year. The American telecoms conglomerate Verizon, the British telecom company BT, and the decentralized video delivery network Theta Labs are all partners in the venture.

Entain is one of the most well-known betting firms. Ladbrokes, Sportingbet, bwin, Coral, and PartyPoker are among the brands it owns.

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