The 24-year-old Icelandic striker told The People newspaper that he sought refuge in a casino after becoming bored and lonely while out injured.
"It started mainly out of boredom and killing time, until it came to the point where I was in debt," said the Icelandic international.
"I have seen for myself just how dangerous this gambling thing can be. I will definitely not put another foot in the casino.
"I can easily see how young people can get sucked into gambling and I am happy to stand up as a warning to others not to get hooked."
Mr Bates however, has taken a positive stance to the issue and is keen to support and help his troubled striker. He said, "We are here to help Eidur and support him at times like this.
"He is a massive talent but sometimes young men can make mistakes. We stand by him totally and will do everything we can to help."
Gudjohnsen, who scored in Chelsea’s 4-1 demolition of Charlton at the weekend, also spoke about his hopes to remain Blue.
"I have a contract with Chelsea and, if the club accept an offer for me, then I'll think about it," said Gudjohnsen. Otherwise I'm staying here and I'm happy to do so."