Rap Mogul Williams Loses $2 Million On NBA Finals Bet

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June 14, 2011 | 6:00pm EST

Hip-hop mogul Bryan ‘Baby’ Williams is $2 million poorer after betting on the wrong basketball team to win the NBA championship.
The rapper, also known as Birdman, was confident superstar athletes LeBron James, Dwayne Wade and Chris Bosh would take the Florida team to victory and placed a high-stakes bet on the Heat triumphing over the Dallas Mavericks in the finals.

During Sunday’s final, which the home side had to win, Williams remained hopeful, writing on his Twitter.com page, “Don’t panic real n**gaz know tha rules stay focus (sic). miami heat… 2million gone turn 2 (sic) 4m (million dollars).”

But the Heat lost and the visiting Mavericks lifted the NBA trophy, leaving Williams millions out of pocket.

However, he refused to sulk over the loss and helped the Mavericks celebrate their win in Miami by joining the players and his protege Lil Wayne at the LIV nightclub for a big party.

Williams is known for his high stakes bets – he became $1 million richer in February when he bet on the Green Bay Packers beating the Pittsburgh Steelers in American football’s Superbowl.

His latest loss won’t make too much of a dent in Williams’ wallet – Forbes magazine recently ranked him among the top five wealthiest hip-hop artists of the year.