Personal finance personality Dave Ramsey is turning up the volume on what he sees as a dangerous trend: the explosion of sports betting.
Ramsey Calls Out The Industry’s Profits And Impact On Families
In a recent post on X, Ramsey warned, “Sports betting ads aren’t free… guess who’s footing the bill?” In a video clip from “The Ramsey Show,” he went further, calling sports betting ads “the most expensive advertising available to man right now,” before adding, “Do you think they’re paying for those ads from their savings? No, they’re paying for those ads with all you people that are losers. You lose your money to them. That makes you a loser.”
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Ramsey has long criticized gambling, but his recent comments specifically target the rise of mobile sports betting. “It’s not just a little hobby—it’s an addiction that’s wrecking families and futures,” he posted back in February. “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.”
Meanwhile, Industry Hits Record Highs
Despite Ramsey’s warnings, the sports betting industry is booming. According to the American Gaming Association’s latest Commercial Gaming Revenue Tracker, Q2 saw $3.92 billion in revenue from sports betting alone, a 20.6% increase from the year before. In June, revenue surged 39.5% year-over-year.
Americans wagered $36.05 billion on sports between April and June, with betting operators holding 10.87% of those wagers—up from 10.07% the previous year.
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Overall, the U.S. commercial gaming industry brought in $19.44 billion in Q2, marking its 18th consecutive quarter of year-over-year growth and the highest-grossing second quarter on record. That figure includes land-based casinos, iGaming, and sports betting.
States also reaped the benefits. Gaming taxes generated $4.59 billion for state and local governments in Q2, up nearly 19% from the same time last year.
Online Betting’s Share Keeps Growing
iGaming revenue also soared, reaching $2.60 billion in Q2, up 32.2% from last year. Seven states currently allow iGaming, and all reported year-over-year growth. In New Jersey, online gaming revenue “eclipsed” that of brick-and-mortar casinos, and in Pennsylvania, it is now nearly equal.
Combined, iGaming and online sports betting made up about one-third of all commercial gaming revenue this past quarter.
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