Waterhouse's regular appearances on the broadcaster during NRL matches in 2013 is believed to have played a key role in Prime Minister Julia Gillard initiating moves to ban the promotion of live betting odds during sports match telecasts.
Demetriou says the AFL would support any ban, but he felt the move was being forced on major sporting codes because "one network" flaunted previous self-regulation measures that had been working well in his opinion.
While the AFL boss didn't name names, he clearly had Waterhouse and Nine in his sights when speaking to reporters on the Gold Coast on Tuesday.
"We're all paying the price of an outrageous advertising campaign by one individual whose got in people's faces and they are absolutely entitled to be outraged by that," Demetriou said on Tuesday.
"I think one network didn't cover themselves in glory either in the way they've promoted live gambling.
"We support the changes. We'll act responsibly and I think they go far enough."
Demetriou also didn't hold back when asked for his thoughts on how an incident of racial abuse against Sydney star Adam Goodes last weekend had been handled.
The two-time Brownlow Medallist was called an "ape" by a 13-year-old Collingwood fan during last Friday's match at the MCG.
Demetriou said he was proud of how the league, club and Goodes had handled the situation, but claimed some media outlets had exploited the young fan.
"To pursue relentlessly a 13-year-old girl, a minor, to go after her, to seek her comments, speak to her family, expose her, has been really disappointing," he said.
"Sometimes you can cross the line ... in this case there's been very little regard for her age.
"Some of the behaviour's been disgraceful, and you do have to draw a line when you're talking about minors."
