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