For what it’s worth I’ve spoken to someone at Google and they have asked for my portal URL so they can have a look, although no committal and nothing forthcoming as yet. It’s clear that even if aff portals do get the green light eventually, they will need to ensure that they are only representing white-listed operations. Additionally PPC campaigns for gambling can only target the UK, no other country at all and they have to be in a new stand-alone PPC account seperate to anything else.
I’ll report back when (if!) I hear more.