Dave Ramsey delivered a fiery warning in an episode of “The Ramsey Show,” where he blasted the rise of online sports gambling and the companies behind it.
Ramsey said sports betting apps are fueling one of the fastest-growing addictions in America, especially among young men in their 20s.
“FanDuel is a portal to hell. DraftKings ain’t king of nothing except their own pocketbook,” he said.
The comments came after a father called in to share concerns about his 21-year-old son.
The young man had recently started investing in a long-term portfolio, which Ramsey would usually praise.
But the father explained that his son was also gambling frequently on apps like FanDuel and DraftKings, sometimes even daily.
Ramsey responded with a sharp warning about the dangers of online sports betting and what he sees as its devastating effect on young men.
A Crisis, Not a Game
“The fastest growing addiction that is destroying young men in their 20s in America, faster than anything I’ve ever seen in 30 years of doing this, is online sports gambling,” Ramsey said.
Ramsey and co-host George Kamel stressed that sports gambling isn’t just a bad habit; they framed it as a full-blown crisis.
According to Ramsey, it’s more damaging than drugs, comparing it directly to substance abuse.
“This is cocaine. You are screwing around with cocaine. You’re screwing around with fentanyl. You’re screwing around with crack. And it’s going to kill your little butt,” Ramsey said. “You need to get away from this stuff.”
He added that companies like FanDuel and DraftKings are intentionally designing their platforms to keep users hooked.
“They have spent half a billion dollars building the visuals, building the feedback loops. They are the best in the world, and they’re making billions of dollars at it.”
Kamel added, “They lure you back in with another offer: ‘Here’s a free bet on us.'”
Shortcuts That Cost You More
Jeff, the caller, said he tried steering his son toward something he viewed as more constructive: short-term trading.
Jeff trades futures and options and argued that at least those skills require learning about probabilities and finance. But Ramsey quickly shut that down too.
“We’re choosing between two things he shouldn’t be doing,” Ramsey said.
“A college student shouldn’t be playing short-term trading and a college student shouldn’t be sports gambling, period.”
Ramsey emphasized that both activities encourage risk-taking behaviors and instant gratification, which he believes damages long-term financial discipline.
He sided with more traditional advice like that of author Scott Galloway, who advocates for buy-and-hold investing strategies.
“You’re at such a disadvantage”
Co-host George Kamel weighed in with his own warning.
“It’s the addictive nature of gambling, the ease of mobile apps, the bookies that stack the odds against you—with this socially acceptable form of entertainment,” Kamel said.
“Truthfully and sadly, he might need to lose a bunch of money and get burned before he actually turns a corner.”
Ramsey said the apps are intentionally designed to rewire users’ brains.
“This short-term feedback loop thing… it is not conducive to building wealth. It is not conducive to building a high-quality life.”
Kamel recommended asking young gamblers to total up their spending on these apps and compare that to potential returns from traditional investing.
“You know what? I could have turned that into 10 grand when I graduate college instead of being broke,” he suggested they might realize.
No Room for Ads
Ramsey revealed that both FanDuel and DraftKings have tried to advertise on his platforms. “They have. And we said, ‘You got funny.’ … No, we’re not putting that on,” he said.
Ramsey was direct: “This is evil. Straight up evil. It’s greed and it’s out of control.”
Ramsey warned that if these behaviors continue unchecked, an entire generation could end up broke, burned out, and burdened with addiction. And for him, there’s no middle ground.
“It’s not cute, and it’s not funny,” he said. “Bad news, boys and girls. Bad news. Hope I wasn’t unclear.”
IMAGE CREDIT: ”Dave Ramsey” by Gage Skidmore, via Flickr. Licensed under CC BY-SA 2.0. Image adjusted for layout.