I'd like if we could find a middle ground between gambling prohibition and ads for gambling right from your phone in every break of sports broadcasts as the situation we're quickly finding ourselves in.
Slightly off topic, but the profusion of weird prop bets on sports is a path toward quiet match fixing that we may never be able to roll back. I'm seeing this in e-sports already, where players can still try hard to win but also "accommodate" gamblers who are betting on odd metrics like over/under on total kills, etc.
I think banning of advertising on various things is entirely reasonable approach. Like in Europe prescription drugs can not be advertised to consumers. And I think that is sensible.
When you make gambling illegal you just drive it underground and fund organized crime, with all the additional crime and corruption that brings with it.
The arguments against making gambling illegal are similar to many of the arguments against making drugs and prostitution illegal, such as consenting adults should be free to do what they want as long as it doesn't harm anyone else.