Drake Loses Big Betting on Jake Paul vs. Nate Diaz Fight

Article ByDavid Weir

August 7, 2023

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Posted in: US Gambling News, Texas Gambling News, US Sports Betting News

Drake, the megastar Canadian rapper, has once again found himself on the losing side of a high-stakes sports bet.

This time, the rapper placed a $250,000 wager on the recent boxing match between social media star-turned-boxer Jake Paul and former UFC legend Nate Diaz at the American Airlines Center in Dallas, Texas.

Despite Drake’s confidence, Diaz was defeated on decision by ‘The Problem Child’ Paul.

The high-profile fight saw millions tune-in over the weekend. Struggling sportsbook Betr, cofounded by Paul, hopes for an August revival in its fortunes from interest in the fight.

Related: Our essential how-to guide to U.S sports betting

High Stakes Bets

Drake has not been shy on placing big money sports bets and publicizing them with his tens of millions of fans.

The rapper posted an Instagram story on Saturday night before the fight that showed he had risked $250,000 on the underdog Diaz via cryptocurrency casino and sportsbook Stake.com. The return on the wager would have been $1 million.  

“Jake is a dog, but I can never bet against a Diaz brother, that’s just how I was raised,” the megastar rapper captioned a screenshot of the bet. Unfortunately for Drake, Paul emerged victorious by unanimous decision after a hard-fought 10-round encounter in Dallas.

The ‘Drake Curse’ Strikes Again

This loss is the latest in a series of betting defeats for Drake, contributing to what has become known as the ‘Drake Curse’.

The rapper has made several high-profile stakes on soccer and MMA over the past year, including a lost $1 million bet on Argentina to beat France in normal time in the soccer World Cup final, and a six-figure loss betting on Justin Gaethje to beat Charles Oliveira in their championship bout.

This is not the first time Drake has lost a large sum of money wagering on Jake Paul.

Earlier this year, Drake backed Paul to knock out Tommy Fury during their exhibition bout in Saudi Arabia. He staked $400,000 on the ex-YouTuber, only to see him defeated via split decision by Fury. Following that fight, Paul jokingly blamed Drake for his loss in the ring, stating, “F***, this is Drake’s fault.”

On the other side, one could point out several big money winning bets Drake has placed. In June 2023, he joined bettors across the nation in beating the sportsbooks, with two million-dollar bets on the Denver Nuggets upset run to the NBA Championship title – winning him $800,000 overall.

Fighting Records

In this latest fight, Paul showed Drake he was wrong not to give him a second chance, scoring a unanimous decision victory over Diaz, aided by a knockdown in the fifth.

Paul, 26, is now 6-1 as a professional boxer, including a bout against Floyd Mayweather and matches against former MMA fighters Anderson Silva and Ben Askrin.

Diaz, 38, holds a 22-13 record in the UFC, where he fought from 2007 until 2022.

After the fight, scuffles broke out in the crowd, and the Dallas venue was criticized for its lack of security.

As for Jake Paul and Nate Diaz, they are set to face off in a $10 million MMA rematch, an agreement made just moments after the result of their boxing match was announced.

Paul will be hoping that his continued sporting success translates to interest in his struggling sportsbook, Betr.