According to me Gambling and betting involves the Same Risk Because in Gambling you are playing games such as Slots, Blackjack etc and Betting mainly known for Sports betting and in Betting you are bet some amount of money on a event. So Betting and Gambling Having Same Risk.....
The difference is gambling like slots, blackjack and dice is base into pure luck while sportsbetting and poker is using half of luck and half knowledge/skill for winning.