Baystreet Staff
Canadian rap musician Drake placed a series of bets on the Super Bowl using $1.6 million U.S. worth of Bitcoin (BTC), including $600,000 U.S. on the Los Angeles Rams to beat the Cincinnati Bengals.
Drake also wagered $500,000 U.S. in Bitcoin on Rams wide receiver Odell Beckham Jr. having “over 0.5 anytime touchdown,” and more than 62.5 receiving yards during the game.
Drake’s total payout could reach $2.9 million U.S., according to betting app Stake, given that the Rams beat the Bengals 23-20 in the Super Bowl, and Odell Beckham Jr. had one receiving touchdown in the game before exiting with an injury.
Beckham Jr. announced last year that he intends to receive his salary from the National Football League (NFL) in Bitcoin as part of an arrangement with Block’s (SQ) smartphone payments service Cash App.
Cryptocurrencies were advertised heavily during the Super Bowl. Some sports betting platforms offered wagers on digital assets making an appearance in the Super Bowl telecast. For example, gamblers could bet cryptocurrency tokens on whether a Bored Ape, a popular type of non-fungible token (NFT), would make an appearance on screen during the game.
The price of Bitcoin has dropped about 35% since its mid-November peak and is currently trading around $42,000 U.S. per coin.
