New UK Bingo affiliate comparison site?

Would it be a worthwhile exercise trying to start a new Bingo comparison site or has the time passed for trying to enter that market?

I have read that Google adwords immediately shut down any websites that are affiliated to gambling is this correct?

I have also read that you need to have a privacy policy/terms and conditions in place and that before you think about starting think about hiring a good lawyer first is this correct?

I have been reading a lot about affiliate marketing over the last week and it really appeals to me but I am struggling to find a niche in which to start and seeing as I do play bingo online and I have seen a few websites that are obviously affiliates, I was wondering whether it would be a worthwhile project to start.

If it isn't why isn't it?

If it is, what pitfalls are there likely to be?

I do have a relative amount of cash of which I would be looking to invest but I don't want to invest into an area that would be useless, I have read online that it is illegal nowadays to start a website affiliated to gambling, is that correct? Or is it illegal in certain countries but the UK isn't one of them?