Drake reportedly lost $2 million on a bet.

According to TMZ, the 'Rich Flex' rapper is said to have placed the hefty sum on middleweight champion Israel Adesanya in his bout against Alex Pereira during UFC 281 in New York, however, the latter won.

If it had gone the other way, the hip-hop megastar would have banked $2,900,000.

The multi-millionaire hasn't had much luck of late.

Last week, it was revealed that Drake and his collaborator 21 Savage are being sued by the publishers of Vogue magazine for $4 million.

Conde Nast filed a lawsuit against the stars for allegedly using the fashion bible's name without permission to promote their new album, 'Her Loss', and argued the musicians' publicity campaign was built "entirely" on the unauthorised use of Vogue trademarks and false claims they would appear on the next cover of the publication with the "love and support" of editor-in-chief Anna Wintour.

A complaint filed in Manhattan federal court argued the pair had exploited the “tremendous value that a cover feature in Vogue magazine carries." It read: "All of this is false. And none of it has been authorised by Conde Nast...

"Vogue magazine and its Editor-in-Chief Anna Wintour have had no involvement in Her Loss or its promotion, and have not endorsed it in any way.

“Nor did Condé Nast authorize, much less support, the creation and widespread dissemination of a counterfeit issue of Vogue, or a counterfeit version of perhaps one of the most carefully curated covers in all of the publication business.”

The publishers said Drake and Savage created a fake issue of the magazine which was distributed in major metropolitan areas, accompanied by posters that mimicked Vogue’s layout.

They argued this resulted in "unmistakable" confusion among members of the public, including media outlets which hailed the pair as the magazine's "new cover stars".

Conde Nast, which is also known as Advance Magazine Publishers Inc., are seeking at least $4 million in damages or triple the stars' profits from their album and "counterfeit" magazine.

They are also claiming for punitive damages and an end to any trademark infringement.

The publishers said they have tried repeatedly since 31 October to resolve the issues without taking legal action.

They said: “[The] defendants’ flippant disregard for Condé Nast’s rights have left it with no choice but to commence this action."