Does online betting/gambling Ads or providing backlinks to such site affect rankings?

I am getting good advertising deals but the ads will be solely of online betting or gambling platforms. I read somewhere that such ads are not good for a site and Google downgrades ranking of such sites.

Also, I get many paid articles/sponsorships from online betting platforms which I have been ignoring till now due to the same reason. Please guide whether my concern is real or not?