Jay Z Bet $100,000 On Miguel Cotto

Next weekend Miguel Cotto and Canelo Alvarez face off at the Mandalay Bay Events Center in Las Vegas, and Shawn “Jay Z” Carter is in the gambling mood.

Word has it, Jay Z wagered $100,000 on Miguel Cotto, who is signed to Roc Nation Sports, in a bet against Oscar De La Hoya, whose company, Golden Boy Promotions, signed Alvarez. If Alvarez wins, Jay Z will donate the $100,000 to Oscar De La Hoya’s charity of choice, the White Memorial Medical Center’s cancer unit. If Cotto is victorious, Oscar De La Hoya will donate $100,000 to the Shawn Carter Foundation — a charity Jay Z set up to help individuals facing financial hardships further their education.

Regardless of whether Miguel Cotto or Canelo Alvarez win next weekend, Jay Z and Oscar De La Hoya are the real winners. Their charitable efforts are awesome!