Patrick Mahomes had never played a playoff game on the road ahead of the 2023 NFL season. But it didn’t matter for the Kansas City Chiefs quarterback. He boosted his playoff record by beating the Buffalo Bills in the divisional round and the Baltimore Ravens in the AFC title game.
The Chiefs are now going to face off against the San Francisco 49ers in Las Vegas. Though players from the Chiefs and 49ers can’t join in gambling, others surely can. Famous rapper Drake took the chance by placing a huge Bitcoin bet on the Chiefs.
Drake’s million dollar bet on Patrick Mahomes’ Chiefs
Drake recently made headlines with a million-dollar bet on the Chiefs in Super Bowl LVIII against the San Francisco 49ers. The rapper shared his betting slip on Instagram, revealing a whopping $1.15 million wager for a potential payout of about $2.3 million on the defending champion to secure victory, via Bleacher Report.
The huge bet was accompanied by a cheeky caption, where Drake explained his decision not to bet against the “Swifties.” The reference was to superstar singer Taylor Swift and her dedicated fan base, known as Swifties. Drake humorously cited his reluctance to go against Swift, who is in a relationship with the Chiefs’ Travis Kelce.
Patrick Mahomes’ squad is a 1.5-point underdog on the spread and a slight underdog on the moneyline at +108, but Drake seemed confident in his choice. However, the rapper’s history of supporting teams has sparked discussions about the infamous ‘Drake Curse.’ Many sports enthusiasts believe that his endorsement often leads to misfortune for the teams he backs.
This isn’t the first time Drake has ventured into substantial betting, and his track record has been mixed. He has recently bet $700,000 on former UFC middleweight champion Sean Strickland, who suffered a defeat against Dricus du Plessis. His luck didn’t fare any better even in the previous wager of $500,000 on Israel Adesanya defeating Strickland at UFC 293.
Mahomes misses out on $1.25 million payout
Patrick Mahomes had the chance to receive $1.25 million in incentives if he won the MVP title. But Baltimore Ravens quarterback Lamar Jackson ultimately won the title. Mahomes finished seventh in MVP voting so he was unable to secure the additional payout.
However, the Alpine F1 owner still has lucrative incentives built into his contract, including a $1.25 million bonus if the Chiefs win the Super Bowl. His contract ensures a steady cash flow for Mahomes over the next several years, with earnings totaling $210.6 million from 2023 to the 2026 season. A victory in the upcoming Super Bowl against the 49ers would increase his earnings to $211.85 million.
However, the signal-caller is not immune to the realities of the NFL salary cap, as he holds a cap hit of $59.8 million in 2024. This figure would have been slightly lower at $58.55 million had he secured the MVP bonus. Besides that, if the defending champion fails to win the Super Bowl, his cap hit would decrease by an additional $1.25 million.
Patrick Mahomes is likely to restructure his contract in the offseason to obtain more upfront cash and create salary cap space for the team. He experienced a slightly “down year” by his standards during the regular season.