'Sports Betting Isn't Just A Little Hobby,' Says Dave Ramsey. He Believes It's An Addiction That's Ruining Families—'The House Always Wins'

The U.S. sports betting industry made a record-breaking $13.71 billion last year, up from $11.04 billion the year before. According to the American Gaming Association, legal sportsbooks handled nearly $150 billion in bets—23.6% more than in 2023—with an average win rate of 9.3% for the house.

A Booming Industry with No Signs of Slowing Down

Even states that already allowed sports betting saw big increases, with Massachusetts making 40% more money and Maryland making 23% more. By early 2025, 38 states and Washington, D.C., had legalized some type of sports betting, and Missouri is expected to start later this year.

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Dave Ramsey Sounds the Alarm on Gambling Addiction

While many people are excited about the record-breaking numbers in sports betting, financial expert Dave Ramsey sees a big problem. "Sports betting isn't just a little hobby—it's an addiction that's wrecking families and futures," Ramsey recently tweeted. He pointed out that the ease of placing bets from a phone makes it dangerously simple to lose everything. "The industry is out of control, making it easier than ever to lose everything with just a few taps on your phone. I've seen people drown in six-figure debt before their families even find out."

Ramsey shared a particularly alarming case in a recent video, where a man racked up $300,000 in credit card debt from sports betting—his wife only found out after the damage was done. He warned that sports betting is quickly becoming one of the biggest financial issues today. "That's right. Out of control sports betting," he said. "You can bet on whether they're going to dance backwards or forwards after a touchdown. You can bet on anything, right? And they are betting on everything, and it's out of control."

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‘The House Always Wins'

Ramsey's core message is that sports betting isn't a way to make money. It's a business designed for the house to win. "Some of you are gambling away your entire financial future just to watch someone else earn a living. The house always wins, and you are not the exception," he said.

As sports betting continues to grow, Ramsey's warning serves as a reality check for those who see it as just another form of entertainment. With more people gaining access to online betting, the financial risks are bigger than ever. Whether states will take action to regulate the industry further remains to be seen, but Ramsey is firm in his stance—betting on sports is a losing game.

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