I've just banned (or secured if compromised) over 3,500 accounts directly related to this activity. There's things in the works to hopefully stem the flow of this kind of behavior long term.

FourRS

Does reporting them like this actually do anything?

And couldn‘t you potentially blacklist any ‚gambling‘ related names? Eg. BET/ROLL ect

Reporting does help, blocking names wouldn't be too worthwhile as there are surprisingly players who are playing legitimately with the name with no dodgy activity and as seen from the screenshot they would just go to jumbled up names.