To be honest, I have never tried that, the one where you borrow money just to gamble.
No matter where we look from the very beginning, you will lose immediately because we know that you need to pay with interest. How can it be if what you owe has also been used up, you will only sink further into debt. I  think that those who reach this level are too addicted to gambling and can't think straight so a person can do this. But there are also people, even if they gamble from debt, they are still able to pay it off and there is no problem as long as you pay back what you borrowed even if you lose gambling or anywhere else it doesn't matter.