What we need is a gambling site which is as decentralised as possible and which does not store funds.
This idea is only good for the business, yes its somewhat secure the funds, but not a customer-friendly. If this is executed by a smart contract imagine you need to pay fee for transaction or gas everytime you bet from your wallet. This is not reasonable and no users will last not unless the fee is too small that it cannot affect enough your wallet balance.
Since bitcoin doesnt have smart contract that works like that then the gambling site will only work using its token? Nah, I don't think it can gather lots of users here though. You cab call it a revolutionary or secured, but nevermind.
^ Nah, I will disagree also with the comment above that gambling casino is decentralized and need to bind your smart contracts which kill you from massive fees. We should be thankful that there are some gambling casinos willing to cover the fees when their user withdraw the fund how much more if we are going to pay the transaction fee which is very expensive or let's say a dynamic fee process. So, this is impossible to happen in a decentralized gambling casino. Nevertheless, by now, we should pick a trusted one and have strong security support if we are worried about getting hacked.