Drake lost another high-stakes crypto bet this week, dropping $1.5 million on Argentina to win the 2026 FIFA World Cup final. Spain beat Argentina 1-0, and the rapper's wager — placed through crypto casino Stake at +245 odds — came up empty. The bet was made in Tether (USDT), the stablecoin pegged to the dollar.
The bet and the odds
Drake put down $1.5 million in USDT on Argentina to lift the trophy. At +245 odds, a win would have paid out about $5.175 million. Instead, Spain's narrow victory wiped the entire stake. The wager was publicized on Stake's social channels, a common practice for the casino's high-profile deals.
A string of losses
This isn't Drake's first big miss. The rapper has lost millions on previous sports bets, including a $1 million wager on the Kansas City Chiefs to win the Super Bowl earlier this year and a $500,000 bet on the Florida Panthers in the Stanley Cup finals. His crypto casino losses have piled up, though he's also had wins — he famously cashed a $2.3 million parlay on the 2023 NBA Finals.
Drake's bets are a recurring marketing tool for Stake, which uses his name and massive following to draw attention to its platform. Each publicized wager — win or lose — generates free press. For the crypto gambling sector, celebrity endorsements remain a double-edged sword: they bring in users but also highlight the risks of high-stakes betting. The USDT angle is notable too — stablecoins are increasingly used for large wagers because they avoid bank delays and currency conversion fees.
Drake hasn't commented on the loss publicly. Stake will likely continue to promote his next bet, whatever it is. For now, the tally of his 2026 gambling losses keeps climbing.
