Canadian music icon Drake finds himself on the brink of losing a staggering $1 million in cryptocurrency after placing two separate bets of $500,000 each on the Edmonton Oilers and the Dallas Mavericks to clinch their respective Stanley Cup and NBA finals titles.

The Oilers have recently faced a harsh streak, losing their third consecutive game to the Florida Panthers in the hockey championship on Thursday. Similarly, the Mavericks are trailing 3-0 in the basketball finals after consecutive defeats against the Boston Celtics. Both series operate on a best-of-seven format.

On June 6, Drake revealed on Instagram that he had placed these bets on the crypto casino Stake using bitcoin (BTC), sharing the betting slips with a caption: “Dallas cause I’m a Texan. Oilers are self explanatory. Picks in are @stake.”

It is worth noting that Drake has previously collaborated with Stake, which might provide him with an incentive to publicize his wagers on the platform, regardless of their outcomes. Drake’s partnership with Stake, established in 2022, was characterized by the artist as “inevitable.” That year, Stake generated $2.6 billion in revenue.

According to the betting slips, Drake stood to win $1.025 million from the Oilers and $1.375 million from the Mavericks if they emerged victorious in their series. However, no NBA team has historically overcome a 0-3 deficit to win a series in the playoffs or finals.

Drake’s wait to learn the fate of his bets won’t be long, with game 4 of the NBA Finals scheduled for Friday and the Oilers’ next game set for Saturday. Both teams must secure victories to prolong their series.

The 37-year-old artist is no stranger to losing substantial amounts of bitcoin on sports bets. Earlier this year, he placed a $615,000 bet on Francis Ngannou to defeat Anthony Joshua in a boxing match in March, only to see Joshua win by knockout in the second round.