'Stupidity on steroids': Dave Ramsey blasts US colleges for promoting online gam...
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Dave Ramsey blasts US colleges for promoting online gambling to students — and reaping millions in fees. Why young people are the perfect prey
Sports betting is surging across America — with flashy ads and easily accessible apps encouraging wagers both at home and in stadiums — and has slinked its way over to several college campuses as well.
The New York Times recently uncovered that at least eight universities have partnered with online sports-betting companies, while at least a dozen athletic departments and booster clubs have signed agreements with brick-and-mortar casinos.
Personal finance author and radio host Dave Ramsey lambasted the institutions on The Ramsey Show, calling the practice "stupidity on steroids."
“You freakin’ idiots … Selling out your own students who you’re supposed to be caring for,” said Ramsey. “The No. 2 addiction in North America today — and fastest growing addiction in North America today — is online gambling. It starts with the sports betting as a gateway drug.”
The National Council on Problem Gambling (NCPG) says researchers estimate about three-quarters of college students gambled in the past year, and 6% have a gambling problem.
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More accessibility means students are more susceptible to problem gambling
In 2018, the Supreme Court overturned a decision that limited sports betting to Nevada — and now 31 states and Washington, D.C. have legalized online or in-person betting, while five more have passed laws that will allow for it in the future.
The relaxation in rules has apparently extended over to higher education institutions as well of late — online betting company Caesars Sportsbook struck a whopping $8.4 million dollar deal with Michigan State University last year, reports The New York Times.
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