If whomever you are laying the bet with is supplying you with credit then NO.
This is because lending money for the sole purpose of gambling contravenes the Consumer Credit Act 1974. Most betting websites will require you to use a debit card or prepaid card to pay for your bets, rather than being able to open an account with them.
If you take out a loan or access another credit facility and then go on to use the money to pay for gambling, then the debt is treated the same as any other.
If you are in debt because of gambling and would like more information, take a look at our Gambling Debt page.