A federal indictment unsealed Jan. 15 in the Eastern District of Pennsylvania claims that a gambling ring involving a former NBA player recruited more than 39 athletes from 17 NCAA Division I teams, ESPN reported Jan. 15.
Prosecutors say the group used those players to fix the outcomes of dozens of college basketball games over the past two seasons.
However, that’s not the biggest financial problem for young Americans, bestselling personal finance author and radio host Dave Ramsey says.
But it is related.
“The fastest-growing addiction that is destroying young men in their twenties is online sports gambling,” Ramsey said on a recent edition of The Ramsey Show. “FanDuel is a portal to hell. DraftKings isn’t king of nothing except their own pocketbook.”
“They’re screwing an entire generation of young men. That’s why they can afford to buy all of these ads,” Ramsey continued, according to Casino.org.
Dave Ramsey says internet gambling sites are evil
Sports wagering is, at its core, a commercial enterprise.
Internet digital gaming companies such as DraftKings and FanDuel pour millions into advertising and offer generous sign‑up promotions because it boosts their bottom line, not because they’re being charitable, Ramsey explained.
“There are back-to-back ads every time you turn on a sporting event,” he said. “They’re spending billions of dollars. You know where they’re getting that? It’s out of your kid’s freaking pocket.”
“This is evil stuff,” Ramsey added.
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Some viewers of The Ramsey Show argued that wagering — sports betting included — comes down to personal freedom.
Ramsey pushed back, saying companies such as DraftKings and FanDuel excel at persuading young men that winning is simple, even though the odds are stacked so heavily against them that losing is the far more likely outcome.
“You don’t win,” Ramsey said.
Sports gamblers lost $13 billion in 2025
- The American Gaming Association reported that in the first 10 months of 2025, sports bettors lost $13 billion, a 17.2% increase from the previous year.
- Americans wager roughly $14 billion each month through legal, regulated sportsbooks.
- These figures exclude illegal betting through offshore sites, local bookies, and event‑contract platforms such as Kalshi.
- A 2025 Siena University study found that half of men aged 18–49 have an active online sports betting account.
- The same research indicates that 22% of all U.S. adults maintain an online wagering account.
- More than half of surveyed bettors acknowledged chasing losses by placing additional bets.
- 37% reported feeling ashamed after losing.
- 20% said their betting has made it difficult to meet financial obligations.
Dave Ramsey disputes a misunderstanding on finance ideas
Ramsey believes a misunderstanding exists about his philosophy around money, according to a recent “Office Hours: Business Edition” podcast interview hosted by University of Tennessee Haslam College of Business professor Monica Langley.
“Generally when something is misunderstood with us it’s because the exposure is limited,” Ramsey said. “The person just knows a little bit about what was said so they didn’t get the whole picture.”
“An example — a funny one — is that there are a lot of memes making fun of me being cheap. That you’re never allowed to have a life. That if you do Dave Ramsey it’s always cheap,” he continued. “It’s Dave Ramsey ruined Christmas, Dave Ramsey did this. Dave Ramsey cars are all hoopties. That’s just part of the picture.”
But Ramsey insists his coaching is about helping people make smart decisions.
“Yes, I’ll teach you to do all of those things to live like no one else, so that you can spend a luxury travel later,” he said on the “Office Hours” podcast. “That last part is often left off and misunderstood if you only get the ‘Dave Ramsey won’t let me do this, or do anything.'”
“Well, Dave Ramsey isn’t going to stop you from doing anything. You’re an adult. But I’m teaching you to sacrifice to win.”
Dave Ramsey says he sells financial hope
“We sell hope,” Ramsey said on the podcast. “The product we sell is hope. If you plant corn, you’re going to get some corn. You reap what you sow. If you work your way out of debt, you’re going to get some money.”
“If you keep doing what you’ve been doing, you’re going to keep getting what you’ve been getting. We teach hope,” he continued. “The people that struggle the most have placed their hope in the wrong things.”
“They are waiting on someone else to fix their life. Every time you place your hope on someone else, you’re going to be let down.”