Having friends with likeminds that work on achieving same goals and aspirations can take you further in life. Gambling itself is a waste of time and money but when it comes to betting on self-improvement this can actually propel you to improve the quality of your life. As responsible people you guys wouldn't bet an outrageous amount of money, it should be done moderately because it goes beyond betting, it's a way of bringing out the best in each other. This can only go wrong when it's done irresponsibly, the goal is to become a better version of yourself.