Jay-Z will have an extra close eye on the NBA Finals this year … ’cause the hip-hop mogul just placed a gigantic wager on the Oklahoma City Thunder winning the ‘chip in five games!

TMZ Sports has learned Hov threw down $1 MILLION with good friend Michael Rubin‘s Fanatics Sportsbook … and if he’s right, he will profit $2,300,000, on top of the milli he wagered (he’ll walk away with $3.3m total).

The Thunder, led by this year’s NBA MVP, Shai Gilgeous-Alexander, are heavy favorites to beat Tyrese Haliburton‘s Indiana Pacers.

But, Jay’s bet isn’t as simple as picking the overwhelming fav to win … it’s gotta be in five games, meaning the Thunder cannot lose more than once in the best-of-seven series.

It’s a bit of a longshot … though if Jay-Z ultimately loses the wager, don’t cry too hard for his bank account. He’s worth around $2.5 BILLION, according to Forbes.