it is as long as you know your limits and restrictions. gambling really is a fun and exciting form of entertainment it's just that when people get addicted to it that problems happen. as long as you know when to stop then go ahead it is worth playing
In that case, gambling is really worth playing, with few cents or funds coming from the faucet in the betting site, but if you are using your money, but it is different in the case of OP, his friend's gambling habit is more than an entertainment, it is more like addiction, as his friend even have the guts to borrow money from him and use it to bet, gambling that way is not worth playing...