JAY-Z Is Down $1 Million After Indiana Pacers Win
JAY-Z‘s faith in the Oklahoma City Thunder has not paid off as they lost to the Indiana Pacers in the third game of the NBA Finals to go down 2-1 in the series.
While the defeat is far from the end for the Thunder, the loss does mean that JAY-Z has lost out on the $1 million he bet on them to beat the Pacers 4-1.
Before the Finals started last week, the rap legend wagered $1 million through Fanatics Sportsbook that the Oklahoma City Thunder will defeat the Indiana Pacers within five games.
With the Pacers already winning two games, Jay forfeits the $1 million.
AD LOADING…
If the bet had come off, the Roc Nation founder stood to win more than $3 million.
The blow is softened by the fact that Jay is a partner in Fanatics Sportsbook and has a number of business partnership with founder Michael Rubin.
The Roc Nation founder is also known to host high stakes blackjack tournaments, often in the aid of the REFORM Alliance organization which he founded with Rubin.
In September 2023, JAY and Meek Mill threw quite the star-studded bash to raise money for it, and the 007-themed party drew out all the Hip Hop big guns.
Page Six reported that the blackjack party, held in Atlantic City, NJ, on September 30, 2023, drew out Tom Brady, Kim Kardashian, Lala Anthony, and more. The buy-in was $100,000 per play, with all proceeds going to the criminal justice reform organization.
The night also drew out performances from Quavo and Travis Scott, and other A-listers like Derek Jeter also made an appearance.
Jay has also been looking to get into the casino business and has proposed opening up a gambling establishment in Times Square.
The Brooklyn-bred billionaire joined forces with SL Green and Caesars Entertainment in a bid to erect a swanky, boutique-style casino at 1515 Broadway office tower, which is already owned by SL Green, NYC’s largest commercial landlord.
As part of the partnership, JAY-Z and his team will oversee entertainment programming at 1515 Broadway, as well as at SL Green’s six other properties in Times Square.
However, Jay faces competition for the license from old rival Nas and his business partners.
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