Wrong. Gambling damn near killed baseball in 1920. Individuals looking for a marginal advantage at the plate with a corked bat or using roids is one thing. They should be punished.
A player, especially a manager, having a financial interest, perhaps even a overwhelming incentive, via gambling in the outcome of a game attacks the very integrity of the game.
Look up the Black Sox scandal if you don't understand the difference. It damn near killed baseball. Pete Rose knew about it but he being the arrogant narcissist he is, didn't give a damn.
At the outset of Spring training, it is the Manager's job to take the entire clubhouse thru the rule book. In particular, the manager is instructed to linger on the significance of Rule 21 (d).
That Pete would undertake such a responsibility, then disregard it is sign of a serious character defect. And an absolute unsuitability for The Hall.