Drake’s $250k Bet on Nate Diaz Falls Short
Celebrity rapper Drake has faced yet another significant setback in his betting endeavors, as his $250,000 bet on Nate Diaz defeating Jake Paul ended in a loss.
On the evening of August 5, in Dallas, actor-influencer turned semi-professional boxer Jake Paul squared off against Nate Diaz, a renowned figure in the world of mixed martial arts over the past ten years.
Their match extended for 10 rounds, making it the first time Paul achieves this duration. Simultaneously, it marked Diaz's inaugural boxing competition since his departure from the UFC after 15 years in 2022.
Even though there were no knockouts, Paul secured the win through a unanimous judges' decision, 97-92, 98-91, 98-91, bringing his boxing record to seven wins and one loss.
However, while Paul was achieving his win, Drake's betting ticket was entering the red.
Loyalty Over Odds
On August 4, the day prior to the match, Drake shared an Instagram story featuring a picture of his betting slip for the fight. In the photo, he revealed a $250,000 bet on Diaz to emerge victorious. He captioned the post, saying, "Jake is a tough competitor, but I'll always support the Diaz brothers - that's just how I was brought up."
Following the conclusion of the bout, Diaz discussed the confidence Drake placed in him before the match, expressing his thankfulness even though he didn't emerge victorious. "Sure, shoutout to Drake," Diaz said during a press conference. "His support means a lot, and I'm grateful for it."
The return for the bet if Drake had won was $1 million.
The Drake Curse
This outcome marks the latest addition to the string of betting disappointments for the Canadian artist, which has famously come to be known as the 'Drake Curse.'
In the past year, the rapper has made several high-profile wagers, including a $1 million (£784,320) loss when he bet on Argentina to triumph over France in regular time during the World Cup final. Another famous lost bet of his is the UFC 272 one.
Similarly, in October 2022, he incurred a loss of $684,000 (£537,000) when he backed Barcelona to conquer Real Madrid in El Clásico.
It was also the second time Drake would lose a large sum of money on a match involving Jake Paul. He reportedly lost $400,000 on the first occasion, betting on Paul to defeat British boxer Tommy Fury. It was also the first time 'The Problem Child' would experience a defeat in his career. At that time, Paul jokingly blamed Drake for cursing him with his bet.