Hip Hop and gambling have always had a long-running but fragile relationship over the years. Many sports of the scene love to be seen at the biggest and most famous casinos in Las Vegas, gambling stacks of chips, purchasing expensive drinks, staying in the best-known hotels on the strip, and – as some would like you to believe – winning big and bringing down the house.
The energy, excitement, danger, and drama of betting appeal to bad boy rappers who like to walk on the wild side. Whether it be at the Roulette table, playing their part in a high-stakes poker stand-off like something from a James Bond 007 movie, or laying down vast sums on the winner of the Superbowl at a sportsbook, Hip Hop names love to be involved. Not only do they love gambling, but they also love to be seen gambling. There’s something sexy and cool about taking a chance, defying the odds, and it paying off.
“Jay-Z” by Wikimedia is licensed under CC BY 3.0
Carter has a love for gambling
One name from the industry who has always publicized his love for gambling is Shawn Carter, better known as Jay Z and, perhaps these days, even better known as the husband of Beyonce. Gossip columns and celebrity mags often feature stories involving Carter and gambling, with the one that instantly springs to mind involving Jay Z losing half a million dollars in a single hand at a high-stakes poker game.
He’s a smart man, though with a shrewd sense for business, so it came as little surprise to read he quickly figured out he was on the wrong side of the table. The real business brains in the gambling industry don’t place the bets; they accept the bets. That’s where the real money can be found, and it’s where the steady flow of profits come from. The odd bettor may hit the jackpot once in their life, but the house hits the jackpot every day.
With a net worth of over a billion, Shawn has a list of what he calls side hustles that help increase his fortune away from Hip Hop. These come in many different shapes and sizes, from music to sports. He owns the clothing line Rocawear, is a certified sports agent in the fields of basketball and baseball, representing some big names and more. That’s all on top of being one of the best-selling artists of all time.
“Jay-Z” by NRK P3/Flickr is licensed under CC BY 3.0
A gamble that can’t fail
With the gambling industry experience as a bettor, Carter recently announced he is launching his own sportsbook business. This is expert timing following rules changes in the US regarding online betting. The White House lifted the blanket ban on sports betting across the nation and placed the decision in the hands of senators of individual states. Some areas moved quickly to legalize online betting, such as New Jersey. Others put it to a vote while certain regions stuck to the old ways and refused even to entertain the idea.
Jay Z wants a piece of the action as the top bookies from across the world descend on America looking to cut themselves a generous slice of this lucrative pie that is being served up. Bettors will be faced with a choice as more than 100 sites and apps battle for your attention but one name to look out for is Fanatics Sportsbook. This is the launch of Jay Z and partner Michael Rubin, adding tech company Kamabi that already boasts an eye-catching CV-producing software for the online sports betting arena.
Fanatics Sportsbook is expected to launch as a website and mobile app covering all major sports and markets. To be competitive in an already crowded industry, the online bookie will likely have to run a generous welcome bonus that will help them stand out from the crowd and catch the attention of potential customers.
Rubin and Jay Z are no strangers to working together successfully and are already partners with REFORM Alliance, a success story. Wil that golden touch work on the gambling game? With the finances, marketing, experience, and the software in place, not to mention Carter’s astute business mind, you certainly wouldn’t bet against it.