Jay-Z Loses $500,000 in High Stakes Poker Game

January 10, 2008. Jay Z looks to have started the new year off the wrong way. MediaTakeOut.com has EXCLUSIVELY learned that last week the former head of Def Jam lost more than $500,000 in a high stakes poker game in Las Vegas.

A person who was in attendance at the game told MediaTakeOut.com exclusively, "It was supposed to be a friendly game with everyone betting only [a few hundred dollars] a hand ... Jay Z was down only about [a thousand dollars] when he raised [another player] $500,000."

The insider explained to MediaTakeOut.com, "It was a bold move for Jay Z - unfortunately his pair of queens didn't beat [the other player's] flush." The source added, "There were professionals at the table, he really should have known better than that."

We know he's got long money and all. But he can't be happy about losing $500K in a matter of seconds. Besides, if he keep's taking hits like that, he'll be back on the block hustling rocks in no time...