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Yeah gambling can definitely affect student’s performance most students usually go into gambling with the most common mindset which is gambling to get Rich quick which may lead to many negative outcome, like getting addicted to it .
Most time gambling can also affect the ability for student to be productive because they usually think that with trading they don’t need another things to make it like having a skills , which don’t usually end well they usually end up learning the hard way as students.
I wouldn't say that gambling definitely affects studies so much, particularly in cases where they gamble responsibly. Btw. I'm not saying it don't affects studies either. Specially in cases where students create debt in order to cover expenses or become gambling addicts. I'm just saying it depends on person.