SAN DIEGO (KGTV) — Baseball's all-time hits leader Pete Rose is banned from the sport and the Hall of Fame because of his gambling.

Yet a story going around claims he will make the inaugural first bet at the opening of a Cincinnati casino.

It's true.

Rose will make the bet as part of the festivities celebrating the opening of the Hard Rock Casino on October 29th.

He's also launching a new sports betting podcast called Pete Rose's Daily Picks.

Rose defended the podcast to USA Today, saying it's not gambling, but "handicapping."

Rose has been banned from baseball since 1989 for gambling on games while he played for and managed the Reds.

He unsuccessfully applied for reinstatement three times.