This is a bridge to far, surprised that isn't a gambling game yet.

NOTHING IS REALLY WRONG BUT U COULD END UP BROKE AND GET ADDICTED TO GAMBLING TO ME MONEY IS HARD TO COME BY THESE DAYS LET ALONE WASTING IT ,WHAT HAPPENS IF YOU NEED TO BUY MEDICINES ON PRESCRIPTIONS AND YOU HAVENT THE MONEY TO PAY YOU GET ILL I WOULD RATHER PUT EVERY BIT IN A BANK OR PIGGY BANK THEN I CANT MOAN THAT I HAVENT GOT NO SAVINGS,ITS LIKE THE LOTTERY ON TV ITS A MUGS GAME,THANK GOODNESS I DONT GAMBLE AND WASTE MY MONEY

No it is not wrong to gamble on online hangman or anything else provided you set & stick to limits of:
How much time you will spend playing it.?
How much you can afford to loose? - never be tempted to bet more to recover losses as you are more likely to loose when you make decisions based on emotions.
How much do you want to win? The bigger the % of your bet you want as a gain the less chance of getting anything.
What is the risk to reward ratio?
What is the probability of wining to loosing?
Gambling can be addictive see
http://www.gamcare.org.uk the charity committed to promoting responsible attitudes to gambling.
Remember that gambling, whether it is in casinos, in bookies, online or in the stock markets -is, just like most economic activity, designed to transfer wealth from the unaware to those who control the market.
If you still want to play games online for money then check out
http://www.enjoyuVme.com
which offers games of skill together with chat rooms and the opportunity to benefit as this well established international company enters a global expanation phase with its own brand of products it has researched & developed over the past 4 years. The global brand name was released on 15 July 2007.
If used sencibly computer games & gambling can improve productivity and reduce the stress of jobs so enjoy & beHappy

well if you can play slots for money online why would it be wrong to play hangman

well no and yes, people will do anything for money and there isn't a rule that says no .but hang man can be really hard and you can keep changing the word in your head like fish to book there is 4 letters and there r 100s of 4 letter words out there and the longer the word the harder it gets.
hope it helps.