There's a lot of money to be made in the world of online sports gambling, and Jay-Z is sniffing it out and getting ready to make it his own. It has been reported that he's thrown his name into the running bid to open a massive sportsbook in New York, and rumor has it that he has some heavyweights working alongside him to make this possible.

Jay-Z is a leader when it comes to making big, bold moves that most people would shy away from. With huge business moves already under his belt, such as his acquisition and subsequent sale of Tidal, all eyes are on him to see what his next move will be in the world of sports gambling.

One thing is for certain - if he happens to snag this deal, this is going to be the 'next big thing.'

Jay-Z Is Going Big

When it comes to business hustles, Jay-Z does things in a very big way, and this move to enter the world of online gaming is no exception. After he developed Tidal and became one of the world's leaders in music streaming, he went on to sell most of his shares of the company to Jack Dorsey for an astounding $302 million.

It's safe to say he knows how to make things work once his hands are in the mix, and this time, he's trying to mastermind some of his success in the world of sports betting. The New York Gaming Commission has received his submission in a bid to enter the billion-dollar industry, alongside pals Michael Rubin, and there's no reason to believe this bold move won't prove to be successful.

Sources have already reported that Jay-Z and Rubin are attempting to form; "Fanatics Sportsbook, and they've teamed with Kambi ... a company that makes software used for online sports gambling." Others vying for the same license include; "FanDuel, DraftKings, BetMGM, Caesars Sportsbook and WynnBET."

RELATED: How Jay-Z Is Adding To His Massive Net Worth In 2021

Jay-Z's Approval Chances Are High

At least 2 of the 6 groups that have applied for this sports gambling license are likely to be met with approval, and Jay-Z seems like a likely option for consideration. He is the most famous name behind the application process and, and it bodes well for him that he is a strong representative for the Black community.

His extreme fame and the mere fact that he is so highly respected in the industry and so greatly recognized for previous money moves is a huge factor working in his favor.

If approved, Jay-Z's fortune will surely multiply in leaps and bounds, and he will have huge command over one of the biggest money-making opportunities that has come about in recent history, with billions of dollars at stake, and within easy reach.

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