In fact, students can do many more activities while focusing on their studies and even be able to get attracted to gambling if they can control themselves. To focus on their studies, they have to be attentive in class but they should be more aware of their responsibilities. Yes, I believe that gambling alone will not ruin a student's career because they will not get enough money while they are still studying. Moreover, if they continue their activities secretly they will be responsible and will fail to pay the session fees and will be responsible to their parents and even to the educational institution.
Students who are inattentive to their studies can be inattentive in every field. Responsible students continue to make efforts and use strategies to have fun along with their studies.
Left for me, I'll blame the greedy students who used their tuition fees to try generate more funds from an activity that success from it is derived by luck, that's foolishness and I think the school authorities should give students who does that some penalties so other would learn and such foolishness by students would reduce.
Betting has an age bracket and anyone who meets the age for betting is allowed to, Including students just that every bettor should do it in a responsible way or else they'll face the consequences nobody should allow their greed ruin them just like the foolish student who risked his tuition fees.