Drake scooped up a $512,000 profit in bitcoin after betting on the Kansas City Chiefs to win the Super Bowl

Drake won $512,000 in bitcoin after placing multiple bets on Sunday’s Super Bowl. However, it took more cryptocurrency than last year for him to get his positions.

According to an Instagram post by the superstar rapper, Drake placed seven wagers totaling $965,000. The most lucrative was a $700,000.0 wager on the Kansas City Chiefs winning the game. This would have a payout of $1.47million.

Drake won his largest position on Sunday when Patrick Mahomes led Chiefs to victory over Eagles 38-35. His profit is approximately 23.7 bitcoins.

His only success was his punt on the underdog Chiefs winning the Super Bowl.

His six failed bets cost him $265,000, including separate wagers on Mahomes and Chiefs wide receiver JujuSmith-Schuster being the first touchdown scorers and the Chiefs winning both halves.

Drake placed his wagers through , his partnership with online gambling site Stake.

According to Stake, the rapper had placed $1.1 million on Chiefs’ last game against the Cincinnati Bengals. He received a $2.1million payout after the Chiefs win.

It comes after a series of bets that won the singer of ‘God’s Plan’ $300,000 in bitcoin winnings. MailOnline.

However, bitcoin’s recent declines, from its $42,000 valuation in February to around $21,000 this year means that last year’s winnings now amount to almost half of what they were.

Drake was able to place his bets with just 44.6 bitcoins, compared to 22.9 bitcoins last season.

After ‘s collapse , firms pulled their advertising deals from the industry, Stake’s use of Bitcoin to place Super Bowl bets appears to be a valuable marketing tool.