Fanatics Investor Jay-Z Places $1M NBA Finals Bet with Sportsbook

• Gambling
• 05 June 2025

Entertainment mogul and rapper Jay-Z is backing his words with action by placing a $1 million bet through Fanatics Sportsbook, predicting that the Oklahoma City Thunder will defeat the Indiana Pacers in the NBA Finals. 

Jay-Z, a true New Yorker, might be upset over the Pacers beating the New York Knicks in the Eastern Conference Finals since he placed a $1 million wager at Fanatics on the Thunder to beat the Pacers in five games. Nevertheless, the star has been uncertain about which New York NBA team he prefers — the Knicks or the Brooklyn Nets. He was once a minority stakeholder in the Nets but sold his share in 2013 to establish his Roc Nation entertainment agency. 

Jay-Z's NBA wager was made at +230 odds (wager $100 to earn $230), so if the Thunder, under league MVP Shai Gilgeous-Alexander, secure victory in five games, the rapper will obtain a total payout of $3.3 million, resulting in a profit of $2.3 million. Remarkable, yet just a portion of his projected net worth of $2.5 billion, positioning him as the wealthiest recording artist globally. 

Jay-Z Faces Criticism for Wager with Fanatics 

Jay-Z’s $1 million bet with Fanatics Sportsbook raised eyebrows among critics, with some suggesting that if he truly believed in his Thunder wager, he wouldn’t be betting with a sportsbook where he has a financial stake. 

In August 2021, Jay-Z and Roc Nation partnered with Major League Baseball (MLB), SoftBank, Silver Lake, Eldridge, TWG Sports Media & Entertainment, and Insight Partners to invest $325 million in Fanatics, elevating the valuation of the privately owned company to $18 billion — a $5.2 billion rise within six months. 

In March 2022, Michael Rubin's private firm secured $1.5 billion at a valuation of $27 billion, suggesting that Jay-Z's investment became profitable swiftly. After a funding round in December 2022, Fanatics had a valuation of $31 billion. 

Anyone can criticize Jay-Z for partnering with Fanatics, but those criticisms can be challenged by questioning, “Why would he choose a rival bookmaker if he's an investor in Fanatics?” For instance, Warren Buffett prefers Coca-Cola over Pepsi since his Berkshire Hathaway has historically been one of the biggest investors in Coca-Cola. 

Jay-Z Involved in Times Square Casino Proposal 

Fanatics’ gaming activities are expanding, yet sports clothing and collectibles remain the main sources of income for the company. Jay-Z and other investors are not primarily investing in a gaming company but rather in a firm that has exposure to gaming. 

Jay-Z might have closer connections to the gaming sector. Roc Nation is collaborating with Caesars Entertainment and SL Green to develop a casino hotel in Times Square. The rapper recently visited Albany to advocate for the plan with New York lawmakers. 

There are doubts regarding the challenges of introducing a gaming venue in Manhattan, but it’s also likely that Times Square benefited from the recent wave of exits from the competition in New York City.