The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.
While I agree that the volatility can be a pain when you gamble as you could have earned a lot of bitcoin during a session only to find out that you lost in terms of fiat when the market crashed, this is something in which we had years to learn how to handle.
Personally when that happens I think about it in the same way I think about my bitcoin investment, maybe its fiat value is down but in the future it will go up, besides we are gambling with satoshis and not with fiat so as long as I got more bitcoin in my wallet I think of it as a win.
^ On this perception, you are not a gambler, you are a holder because you care about the value of BTC.
A gambler will not care about a value when it will drop or up, if they gamble in crypto after they purchase, they gamble it directly to the gambling casino that they like to gamble there is no loss of the value because you are purchasing at a lower price and in gambling casino if you will bet 1 BTC you will win 1 BTC even if the price has drastically down. Volatility is nothing if you are a gambler, but if you care on it you are a holder.