Unfortunately to some it does. Hence the number of rubbish cloaked websites filling the search engine results. You report one to google/yahoo/msn, another ten appear in their place.
The Casinos need to lead by example and ensure their affiliates do not engage in this practice. Many reputable programs do police their affiliate network, but others ( Mentioning no names, you know who you are! ) turn a blind eye to this practice and some even directly partcipate in it.
No wonder the Online Gambling Industry is regarded by many search engine optimisers as a bad neighbourhood.