Religion usually prohibits things that have a bigger bad side or loss. For example, gambling can have a bad impact if you are addicted to it, which can harm many people. Then prostitution has detrimental sides such as the potential for contracting dangerous diseases.
However, from a political perspective, of course these two things can be profitable for the country because they can be taxed, which is why not a few countries legalize gambling and prostitution simply to be able to take these profits as state tax income.
For people who are not religious, I don't think there is a problem, they can do whatever they want as long as it doesn't conflict with the rules that apply where they live.
I believe that something can not destroy ones career unless the person give it a chance, so betting can't destroy ones life if the gambler doesn't give it chance. Given gamble a chance to destroy careers is only when guy are addicted to it, and additions starts gradually gradually, at the time you know you are getting addicted to gamble you must make an amend so you won't lose everything you have. I have heard stories were gamblers says they sold their houses, cars and other furnitures and use the money to gamble thinking they will win but they ended up losing everything that they have worked for. So it's better to gamble with what you can afford to lose.
Few reasons why many religions doesn't like gamble is because they don't want people to get addicted and they know if one is addicted the person might sell his/her properties to gamble. But still there are people in those religions that still gambles.
saying gambling can't ruin lives unless one permits it is technically feasible, but why play with fire? My experience with gambling is that it promises mountains but often leaves you in holes. My friend, addiction is the ultimate shape-shifter. It bursts in as "harmless fun." You soon find yourself selling dreams on eBay to fund nightmares in a love-hate relationship with Lady Luck.
That faiths are gambling buzzkills? Their idea is right. They want to prevent the flock from despairing, not just stop gambling. Others in the pews take the risk. We're all drawn to danger, but don't glorify it. In gambling, the only safe wager is your resolve and insight to know the odds are never in your favor. Bet on anything else? You'll probably lose that bet. Remember that what you can't lose is your values, duties, and sanity