This can work under someone else supervision like in your case are your parents which can restrict you all the tools that you can use to gamble with and keep an eye on you until lets say you have not gambled for a month.
The real problem with control is when you are an independent adult that controls everything for yourself.In this case if the situation goes out of control then it is almost sure that a lot of problems will arise in the near future.
I was very surprised at the time how many adults can't control themselves on their own. They drink too much alcohol, gamble, cheat on their wives and husbands, and so on.
These people can and should be saved, but they themselves must seek help or their family members must do so.
The most important step in a person's recovery is to understand that they have a problem and want to get rid of it.