Jay-Z Is Looking To Get Into The Sports Gambling Industry

Jay-Z could be hitting a gold mine with his latest venture.

BYAlexander ColeAug 16, 20211.5K Views

Jay-Z is one of the biggest artists in the world and over the last decade, he has turned his empire into a billion-dollar undertaking. The artist has strategic partnerships with the likes of Jack Dorsey and Michael Rubin, so it is no surprise that he is always looking to create new ventures that will bring him even more generational wealth for his family.

Recently, it was revealed that Jay-Z has bought his way into Rubin's Fanatics company which is one of the biggest suppliers of sports merchandise in the entire world. According to TMZ, Jay and Rubin are now looking to turn that partnership into a Sportsbook empire as they have applied for a sports betting license in the state of New York.

Theo Wargo/Getty Images for TIDAL

New York State is looking to approve two Sportsbooks right now, and various big names like FanDuel, DraftKings, BetMGM, Caesars Sportsbook and WynnBET are all trying to get a slice of the pie. Now, Jay and Rubin will have to contend with these juggernauts although considering his status in New York, there is no doubt he could very well have an advantage with this new venture.

Sports gambling has the potential to rake in billions upon billions of dollars, especially in a state like New York where there are a plethora of sports teams. This story is still developing, so keep it locked to HNHH as we will bring you all of the latest updates.

Jay-Z Is Looking To Get Into The Sports Gambling Industry

Ezra Shaw/Getty Images

[Via]

Comments
Link Copied to Clipboard!

About The Author

Alexander Cole

Alexander Cole is the current Managing Editor of HotNewHipHop. He started at HotNewHipHop back in 2018 where he began as a Sports and Sneakers writer. During this time, he has shown an expertise in Air Jordans, Yeezys, and all things that have to do with Nike. His favorite kicks are the Air Jordan 1 High OG, the Air Jordan 4, the Air Jordan 6, and the Adidas Yeezy Boost 350 V2 in the "Beluga 2.0" colorway. Although his collection might not be the biggest, he is always looking to add new styles to it. When it comes to sports, Alex has a particular interest in the NBA and the NFL. His favorite teams are anywhere LeBron goes, and the Kansas City Chiefs. As a Montrealer, the Montreal Canadiens hold a special place in his heart, even if they haven't won the Stanley Cup in his lifetime. Alex also works for the Concordia Stingers, where he provides play-by-play and color commentary for the football, hockey, and basketball teams His favorite hip-hop artists are Kendrick Lamar, Playboi Carti, Travis Scott, and Lil Uzi Vert.