Plenty of rappers have turned spitting rhymes into empires worth multiple millions of dollars. There is a select few that have become true business moguls. Jay-Z may be the best known of that latter group.
Hova’s next business move could be a step into the sports betting world in New York. According to TMZ, he and Michael Rubin, a part-owner of the Philadelphia 76ers, have applied for a sports betting license in the Empire State. Their intention is to launch Fanatics Sportsbook.
The duo is one of six groups applying for licenses. TMZ was told that at least two of the groups would be given licenses. While the other applicants include major names in the sports betting space, like FanDuel, DraftKings, BetMGM, Caesars Sportsbook and WynnBET, Fanatics’ bid is the only one that includes a prominent public figure and the only one that includes a Black applicant, making it a possible favorite.
This would not be the first time Jay-Z has been in the gambling business. His 40/40 Clubs in Las Vegas and Atlantic City had gaming licenses as well. Those clubs were closed in 2008 and 2014 respectively.
Fanatics does a lot of advertising in the sports world. Jay-Z has a major public profile. If he and Rubin are successful, it wouldn’t be hard to imagine Fanatics Sportsbook being the next to pursue major content and media partnerships.
