In my experience (writing Pre-Sentence Reports) there is a chance of him getting a prison sentence - due to the breach of trust aspect of his offence. If he is out of work, he could presumambly make a claim for benefits and pay a nominal amount back to the company prior to his court hearing.
If he is unemployed at the time of sentencing, they are likely to order that he pays compensation at a rate of £2.50 a week or another nominal amount.
As for addressing his gambling, a community sentence with a condition of treatment would mean that he would have to attend appointments as directed by his Probation Officer, but they have no control over how well he engages in that process if you see what I mean. He could just go along to groups/psychiatric treatment/ Gamcare etc and just nod his head in the right places. He needs to want to get help for his gambling for that part to be effective.