Jay-Z is regarded as one of the most legendary rappers in the Hip-Hop world. On top of his musical prowess, Hov is also a smart businessman and is worth over a billion dollars for good reason. He also realizes that people love to gamble.
It seems he is planning on expanding his business empire, and has his sights set on gambling. According to TMZ, the rapper’s name is on one of the applications submitted to the New York Gaming Commission requesting approval for an online sports betting license.
It was said that he is working with Sixers partner Michael Rubin to form Fanatics Sportsbook and they have teamed with Kambi, which is a company that makes software used for online sports gambling.
They are facing competition against companies such as FanDuel, DraftKings, BetMGM, Caesars Sportsbook and WynnBET. It was stated that New York state will approve at least 2 of the 6 groups, and it’s possible Jay-Z will be a big reason why the group will be put over the top.
On top of being the most prominent public figure applying for a license, he is also the only black applicant. Fanatics Sportsbook will be headquartered in New York City, and Jay-Z is already planning to hire a diverse staff. We will have to wait and see how his new business venture will fare.
Would you put your money on Jay-Z on this venture? Sound off in the comments!