Canadian troubadour Drake Teeters finds himself precariously close to forfeiting a staggering $1 million in cryptocurrency, having staked two hefty wagers of $500,000 each on the Edmonton Oilers and the Dallas Mavericks to clinch their respective Stanley Cup and NBA Finals.

The Oilers stumbled in their third consecutive clash against the Florida Panthers during the hockey championship last Thursday, while the Mavericks have plummeted to a disheartening 0-3 deficit in the basketball series following successive defeats at the hands of the Boston Celtics. Both series adhere to a best-of-seven format.

On June 6, Drake divulged his high-stakes bets on the crypto casino Stake, utilizing bitcoin (BTC), by showcasing the betting slips on Instagram, alongside a caption: “Dallas cause I’m a Texan. Oilers are self-explanatory.”

It is pertinent to note that Drake’s history with Stake is marred by prior affiliations, suggesting a potential ulterior motive for publicizing his wagers on the platform, irrespective of their success. The symbiotic relationship between Drake and Stake, which commenced in 2022, was characterized by the artist as “inevitable,” with Stake amassing an impressive $2.6 billion in revenue that year.

Should the Oilers and Mavericks defy the odds and secure victory in their respective series, Drake stands to gain $1.025 million and $1.375 million respectively, as per the betting documentation. Historically, no NBA team has ever surmounted a 0-3 deficit in the playoffs or finals.

The resolution of these bets looms imminent; game 4 of the NBA Finals tips off on Friday, while the Oilers are slated to play on Saturday. Both squads must stave off defeat to prolong their series.

This is not Drake’s maiden voyage into the treacherous waters of bitcoin sports betting. Earlier, he placed a $615,000 bet on Francis Ngannou to triumph over Anthony Joshua in a boxing match in March, only to witness Joshua emerge victorious by knockout in the second round.