Jay Z's Shawn Carter Charity gala brought in more than $2 MILLION for the organization this weekend!

Unfortunately for Yo Gotti, MTO News learned that $1 million of those dollars came from him.

MTO News spoke with multiple people who attended the gala and according to them, rapper Yo Gotti gambled away a milli at the event.

One famous guest told MTO News, "There was free champagne and people got Rolexes, but they were expected to gamble. And they definitely did. Yo Gotti got carried away, and ended up losing [a million dollars]."

Jay Z invited many of his friends in hip hop to come to the Casino and lose money - for his charity. Meek Mill, Swiss Beatz, DJ Khaled, Fat Joe, and Fabolous all attended the event - and paid the $100,000 entry fee to gamble.

The insider explained, "Most of the guests lost the [$100,000] that they bought in and stopped gambling. Yo Gotti kept going. He decided that he wanted to become the 'bank' and bet against Jay Z and some of the other guests. He lost."

Here's a video of Yo Gotti losing $500K on a single hand of Blackjack - as the bank:

Well, at least Yo Gotti lost money for a good cause.

 The Shawn Carter Foundation gives money and scholarships to disadvantaged people across the country.