Hip-hop mogul JAY-Z is down $1 million after placing a bold wager on the Oklahoma City Thunder to win the NBA Finals in just five games. Unfortunately for the Roc Nation boss, the Thunder dropped Game 3 to the Indiana Pacers, putting them behind 2-1 in the best-of-seven series and ending the possibility of a 4-1 victory.

JAY-Z made the bet through Fanatics Sportsbook, wagering $1 million that the Thunder would clinch the championship in five games.

 Had his prediction come true, he would have walked away with over $3 million. But with the Pacers already securing two wins, the bet is officially off the table.

JAY-Z’s High-Stakes Power Play

While the loss stings, it’s not a major financial blow for the billionaire rapper, who happens to be a strategic partner in Fanatics Sportsbook. His relationship with Fanatics founder Michael Rubin runs deep, with both men also co-founding the REFORM Alliance, an organization aimed at criminal justice reform.

JAY-Z is no stranger to high-stakes gambling. In September 2023, he and Meek Mill hosted a lavish, James Bond–themed blackjack fundraiser in Atlantic City to support REFORM. The exclusive event featured a $100,000 buy-in per player and drew a who’s-who of A-listers including Tom Brady, Kim Kardashian, Lala Anthony, Derek Jeter, and performances by Quavo and Travis Scott.

In addition to his sports betting and philanthropy ventures, JAY-Z has his eyes on the casino business. He recently partnered with SL Green and Caesars Entertainment to propose a boutique-style casino in New York’s Times Square at the 1515 Broadway building. If successful, his team would handle entertainment across several SL Green properties in the area.

However, competition is fierce — including from fellow rap icon Nas, who is also vying for a casino license with his own investment group.