Gambling genuinely ruins lives. Sure there's an element to it that's 'fun' and 99% of people can gamble responsibly, but the 1% are let down by how greedy these companies are.
I've known a couple of people who've ended up committing suicide due to gambling debts. An employee who'd been working at my company for over a decade stole over £10k to fund his habit. When you consider the owners of Bet365 are taking hundreds of millions every year it really depresses me. They're all based off-shore and don't pay taxes. They burden the economy with problem gamblers and do the absolute bare minimum to support the 1% who can't gamble responsibly.
I'd fully support City if they took a step to ban gambling sponsorships. I don't think they will in a million years, but they'd be on the right side of history if they did.