In showbusiness circles, the stories of how the Canadian musician Drake likes a bet or a stake have been rife and become the stuff of legends! But what exactly is the Canadian Musician’s relationship to the cryptocurrency platform Stake?
What Is Stake?
Firstly, let’s establish what is Stake?
Stake is a cryptocurrency gambling platform. They are the traditional online casino and sports betting operator trading under stake.com. Users can bet with Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
The company Stake has been around since 2017, and in that time have grown to be the seventh largest gambling group globally with profits last year of over $2.5 billion.
Australian billionaire, Ed Craven co-founded the company with his American partner, Bijan Tehrani and in 2021 they widened their enterprise to the United Kingdom under TGP Europe
What About Drake?
The latest reports suggested Drake has been involved in a partnership type agreement for a while, it has yielded the rapper around $100 million annually. The company have not been shy in using the Drake’s profile as a prominent gambler for their arrangement to be mutually beneficial.
They’ve created a notable partnership, after all Stake and Drake go well together in any headline.
Match Made in Heaven
The “6 God” as he is known, became a Brand Ambassador for the crypto betting platform a couple of years ago and those legendary tales of his betting exploits have gathered pace with some extraordinary wins and huge losses of recent times.
One of Drake’s biggest wins was from a single spin on live roulette in May of 2022, which saw him pocket $17 million.
The musician joined Stake’s online casino in December 2021 under the alias “DeepPockets6” and in the initial two months, it is rumored he staked more than $1 billion on sports and casino bets.
Not long after, Craven announced their partnership saying,
“We share the same love for crypto, gambling and community and are like-minded fans of the technology and culture at the forefront of this movement.”
Drake, the Influencer
There is no doubt this profitable partnership works well on social media platforms given Drake is a very active user with a huge following. From his first forays into the cryptocurrency world of betting, Drake’s Instagram postings, either have Stake tagged in, or their logo appears.
Previously, Drake had been a global ambassador for his Toronto Raptors in the NBA since 2013 and there were often posts promoting both. Early in 2022 the shrewd rapper even posted himself played live high stakes poker courtside at a Toronto Raptors game.
Public Concerns
Many say that it is just clever product placement between the musician and the cryptocurrency betting platform, but others are concerned about Drake’s gambling habits.
The volume and amounts of money are huge while the thirty-seven-year-old appears to stake on every available gambling product. Sceptics have speculated that Drake is staking company money, and it is all a stunt but let’s be honest with a personal worth of over a quarter of a billion dollars, Drake is one of the few who could easily manage this sort of exposure in his betting profile.
Drake vs. Stake Live Streaming
The branding of the high-profile partnership has been shrewd with Live streamed events called Drake vs. Stake that have become popular on the YouTube and Twitch streaming platforms with giveaways to Stake members using celebrity guests.
The shrewd marketing machine around Stake never stops growing and spreading their wings on a global scale. They have acquired a main partnership share with the English Premier League Football club Everton while former Manchester City legend, Sergio Aguero has also been aligned with Stake for several years.
Recently Stake has well and truly spread their wings further into the Formula One market with a multi-year title sponsorship deal with Alfa Romeo. This comes on the back of their involvements with the Fittipaldi brothers in the motor racing fraternity.
Drake Is the Major Staker
They may have other commitments to aid brand growth but make no mistake, Drake is still the major ambassador for Stake and their global brand of a cryptocurrency betting site and casino.
