Originally posted on 09/12/2017:
You can do that if you want to ignore the Coinbase rules about gambling usage and hope they dont notice.
Also, Coinbase is an exchanger, not a wallet provider. They have a wallet attached to your account in order to handle the bitcoin used there, but you have zero control over that wallet. They are not a 'wallet' and they do not especially want you to use them that way either.
Blockchain.info/wallet is a independent wallet which you have complete control over.
Coinbase can start asking you for ID or demand to know what you do with your bitcoin if they want, so I would never store any there. Just use them to buy or sell and get it out of there fast.
Best practice is to go SBR > Blockchain Wallet > to a Sportsbook to deposit or to Coinbase to cashout
Or buy new Bitcoin from Coinbase > Blocchain Wallet > Sportsbook deposit.
Or cash out from a Sportsbook > Blockchain Wallet > Coinbase to sell and cashout