betting vs gambling

betting is not a noun while gambling is a noun.

Word	Noun	Adjective	Verb	Adverb
betting	No	Yes	No	No
gambling	Yes	Yes	No	No

As adjectives, betting and gambling are synonyms defined as:

betting and gambling: preoccupied with the pursuit of pleasure and especially games of chance

Other synonyms of betting include card-playing, dissipated, sporting.

betting (noun)	gambling (noun)
	the act of playing for stakes in the hope of winning (including the payment of a price for a chance to win a prize)

betting (adjective)	gambling (adjective)
preoccupied with the pursuit of pleasure and especially games of chance	preoccupied with the pursuit of pleasure and especially games of chance