The two rappers were in the studio together early Saturday morning and decided (after a few swigs of Ciroc vodka) that a little friendly gambling was in order. And after what we're guessing was a string of bad luck, Diddy decided to go double or nothing... and he lost it all.
Rick Ross and Diddy uploaded the Instagram video (above) showing how the whole thing went down. Unfortuately, Diddy didn't have the money on him (why not?), so he had to write Ross an I.O.U. Pro tip: Get that thing notarized. Immediately.
After his big win, Ross aptly tweeted, "Won a Million lastnight. #456." #RapperProblems