I don’t think you can create good income only using PPC’s without a website.
Personally I don’t think you can create any income at all using that method. The good PPC’s don’t accept casino advertisements. The others will sent you a lot of trash traffic. I think some PPC’s may work under certain circunstancies but always as an extra to other means. The way to go is to create a website, optimize it, and wait, wait, wait. It’s like creating a business.
About the “family-friendly”, I think this is a business like any other. People search the internet for advice on casino or poker room gambling. They want to gamble before arriving at your site. You just point them to the right places. Doing a website about gambling with valuable information for players is a good service to people. Advertising on a PPC without any website is not any service at all and will most likely fit on your “family-unfriendly” category.
By the way, what are a bank doing when promoting credit, and mobile phone companies when promoting mobile phones?
Is this because people need the credit or need the phones? Right now, the answer may be yes. But when they start the business the answer was no. When mobile phones start to appear no one need this, or at least, the vast majority of people. Now a child with 10 years will most likely have one. This is because all that companies worked hard to create the necessity.
Most companies want to create you necessities and want you to subscribe to their services. Most people do not have sufficient funds to pay for all this at the end of the month. Then, there are a lot of credit companies offering you credit. You will end up with more bills to pay, they offer you more, and you will never have the money for all this. This is not family-friendly for me.
I see all people in my country with a mobile phone and doing more use of it than they can afford. Why? Because the mobile phone companies try hard. Very hard. They want you to use the phone, they don’t care if you’re spending more than you can afford.
My point is: there is no such thing as a “family-friendly” business in the sense you say. The problem is with all the system we have. Capitalism works this way, good or bad.
I will be more happy promoting gambling related products through a well done website than promoting all types of credit sales. When you buy a product they offer you credit if you don’t have the money. You can pay on 60 months. If you lose your job you will not be able to pay. They are promoting debt. Is this family-friendly? How many companies will fit on this category? And how many employees?
Casinos will not let you play on credit. You can play if and only if you have the money. You will not have a bill to pay all months. This is an entertainment industry, like any other. Off course there are people that spend more than they should. But as I tried to point, that’s exactly what happens on any other products advertised elsewhere, and what every company try you to do.
I hope I’m not being to boring. 
Also, unlike Commission Junction, there’s a higher risk of getting ripped off by the casino programs.
I would say this is untrue. Maybe someone with more experience than me can make any comments on this.