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Spain’s World Cup Victory Triggers Massive Crypto Losses for Drake and Others: Details

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The FIFA World Cup final, perhaps the biggest sporting event and a spectacle that happens once every four years, took place yesterday (July 19), with Spain facing Argentina.

As usual, it attracted gamblers who wagered substantial sums, such as the Canadian rapper Drake. However, the match’s outcome was far from what the musician (and some other bettors) wanted, and they parted with millions of dollars worth of crypto.

Was Messi Destined to Lose?

Leading up to the big game, tension kept rising, while risk-loving people like Drake placed huge bets, hoping to be on the right side of history and, of course, walk away with huge profits.

The rapper bet $1.5 million in USDT on Argentina to win the final during the 90 minutes (including stoppage time). The South American team was the underdog, and a potential victory would have resulted in a payout of over $5 million worth of crypto for Drake.

Drake's Bet
Drake’s Bet, Source: Instagram

Nonetheless, the Canadian lost his bet. Spain outclassed their opponent in every phase of the game, dominating from start to finish, yet winning only 1-0 after Argentina’s goalkeeper Emiliano Martinez did miracles for 106 minutes.

Did Spain play magical football just because Drake bet against them? It’s doubtful, and the idea would only make sense to those who believe in superstitions. At the same time, it is true that teams and athletes supported by the rapper often end up losing, which has led to the phenomenon known as “the Drake Curse.”

Earlier this month, for instance, he placed $1 million in Bitcoin (BTC) on Conor McGregor, who returned to the octagon at UFC 329 in Las Vegas after a five-year absence and faced Max Holloway. But the comeback was far from desired as “The Notorious” lost in the very first round.

Meanwhile, Drake wasn’t the only one losing a huge sum because of Argentina’s inability to win the World Cup for the second consecutive time. Lookonchain revealed the case of one gambler who bet $1.23 on Lionel Messi and his teammates to lift the trophy at a time when the odds in their favor were around 10%. A potential win would have resulted in a profit of well above $10 million.

The Right Bet

Of course, there are others who picked the right horse and made millions. Such an example is a whale who created a new wallet on Polymarket hours before the final and wagered $1.95 million on Spain to become champion when the odds were 59.1%.

“He won and made $1.35M in just a few hours,” Lookonchain stated.

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