'Stupidity On Steroids' – Dave Ramsey Is Outraged By This Scheme Targeting Students 'You Oughta Have Your Butts Kicked Up Around Your Neck And Be Wearing Them Like A Collar'

Dave Ramsey, a financial adviser and host of “The Dave Ramsey Show,” has long been an advocate against debt and financial irresponsibility. He took a strong stance speaking out in a YouTube video against the emerging trend of universities partnering with sports betting companies, a practice he finds not only unethical but also harmful to students. 

Ramsey’s critique comes amid revelations that several universities have entered lucrative deals with betting companies, effectively introducing and promoting gambling on campus.

Don't Miss: 

• If the average American household is a millionaire, why do people feel so broke?
• For many first-time buyers, a house is about 3 to 5 times your household annual income – Are you making enough?

For years, college campuses were notorious for being hunting grounds for credit card companies, enticing students into debt with offers of free merchandise. However, as educational institutions and states took measures to ban credit card promoters from campuses, a new and arguably more detrimental trend emerged. 

In the video, Ramsey points out that universities have now embraced partnerships with sports betting firms, a move he deems “stupidity on steroids” and far worse than the credit card schemes of the past.

The New York Times reported instances such as Michigan State University and Louisiana State University (LSU) striking deals worth millions with online betting companies like Caesars. These agreements not only bring betting directly to students but, in some cases, actively encourage them to participate, including those under the legal gambling age. According to Ramsey, this practice not only exploits students but also puts them at risk of developing gambling addictions.

Ramsey’s outrage is palpable as he addresses the broader implications of these partnerships. He criticizes the universities for prioritizing short-term financial gains over the welfare of their students, labeling those involved as “un-freaking-believable” and “unconscionable.” He calls for immediate action against university presidents and athletic departments that have endorsed these deals, accusing them of incompetence and greed. 

Trending: Around 50% of Americans Can’t Afford a $1000 Emergency- Will you make enough each month?

In classic Ramsey style, he said, “You oughta have your butts kicked up around your neck and be wearing them like a collar.” Following this, he emphatically said, “LSU, you oughta be ashamed of yourself.”

Highlighting the gravity of the issue, Ramsey discusses the broader context of addiction in North America, noting that gambling, particularly online gambling, ranks as the second-fastest-growing addiction. He warns of the dangers of sports betting acting as a “gateway drug” to further gambling activities, emphasizing the irresponsibility of universities in exposing their students to such risks.

In his impassioned critique, Ramsey not only condemns the universities that have succumbed to such partnerships but praises those who have resisted, urging them to maintain their integrity. His message is a clarion call for educational institutions to reassess their values and priorities, putting the well-being of their students above financial incentives.

The controversy sheds light on the evolving challenges facing higher education, where the pursuit of revenue can sometimes clash with the mission of nurturing and protecting students. Ramsey’s opposition to the partnership between universities and betting companies serves as a reminder of the importance of maintaining ethical standards and safeguarding students’ futures against potential harm.

The ability to make informed financial decisions is crucial in a world where the allure of quick gains can lead to long-term consequences. Financial advising plays a key role in helping people understand the risks and rewards associated with different financial choices, encouraging a culture of responsibility and informed decision-making that can protect individuals from potential pitfalls.

Read Next: 

• Average retirement income in America has been revealed – Will you make enough each month?
• Are you rich? Here’s what Americans think you need to be considered wealthy.

*This information is not financial advice, and personalized guidance from a financial adviser is recommended for making well-informed decisions.

Jeannine Mancini has written about personal finance and investment for the past 13 years in a variety of publications including Zacks, The Nest and eHow. She is not a licensed financial adviser, and the content herein is for information purposes only and is not, and does not constitute or intend to constitute, investment advice or any investment service. While Mancini believes the information contained herein is reliable and derived from reliable sources, there is no representation, warranty or undertaking, stated or implied, as to the accuracy or completeness of the information.