Rap mogul’s high-stakes gamble falls short as Indiana Pacers take 2-1 series lead
JAY-Z is taking a loss — not in music, but in sports betting. The billionaire mogul wagered $1 million that the Oklahoma City Thunder would defeat the Indiana Pacers in just five games to claim the NBA Championship, but that bet officially collapsed after the Pacers won Game 3, taking a 2-1 lead in the Finals series.
The bold bet, placed through Fanatics Sportsbook, would have netted JAY over $3 million if it had paid off. But with Indiana already claiming two victories, the 4-1 outcome is now off the table — and so is his seven-figure stake.
Fortunately, the blow is cushioned. JAY-Z is not only a partner in Fanatics but also has close business ties with the company’s founder, Michael Rubin. The two are also collaborators in the REFORM Alliance, a criminal justice reform group that frequently hosts celebrity-packed fundraising events.
One such event in 2023 — a 007-themed blackjack night in Atlantic City — featured performances from Travis Scott and Quavo, and drew in stars like Tom Brady, Kim Kardashian, and Derek Jeter, with buy-ins starting at $100,000.
Though the Thunder bet didn’t hit, it’s safe to say Hov won’t be hurting.