Drake loses £346,000 by betting on Justin Gaethje to become lightweight champion as Charles Oliveira chokes out ‘The Highlight’ at UFC 274

Drake once again lost big money by betting on a UFC fight as he saw Charles Oliveira ruin his fun by choking out Justin Gaethje at UFC 274.

On Friday, the musician took to social media and posted a betting slip that suggested he had backed Gaethje to the tune of £346,000.

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If the underdog emerged victorious from the UFC 274 main event, he would have walked away with $870,000 – a whopping £524,000 in profit.

Unfortunately for him, Gaethje was unable to capitalise on his early success and was ultimately tapped out by Oliveira in just over three minutes.

Drake is known for betting big on sports and it appears MMA is his new favourite sport to throw money at.

Earlier this year, the rapper put $250,000 (£202,000) on Jorge Masvidal to defeat Colby Covington at UFC 272.

Unfortunately for Drake, that bet backfired, as ‘Chaos’ dominated ‘Gamebred’ over five rounds for a decision win, meaning Drake missed out on a potential $700,000 ($598,000) win.

The UFC 274 main event took an interesting turn on Friday when Oliveira was stripped of his lightweight world title after missing weight ahead of his highly anticipated fight with Gaethje.

At the weigh-in, ‘The Highlight’ weighed in without a hitch, coming in at 155lbs, but then Oliveira stepped up to the scales and registered half a pound over the 155lb limit.

The Brazilian was then given one hour to make weight, as per the Arizona commission rules, but after returning, he once again failed to get below the limit, weighing in at 155.5lbs.

A spokesman from the UFC then addressed those in attendance at the weigh-in and explained how the event would proceed.

“The fight is still on and the title is currently vacant,” the spokesman said. “If Charles wins the fight tomorrow night, he will win the fight, but the belt will be vacant.

“If Justin Gaethje wins the fight tomorrow night, he will win the championship.”