How do I create Gated Reverb on a snare?

basicaly, yes.

Pull down the threshold on the gate a bit to change when the reverb cuts off suddenly, and play with the predelay setting in the reverb.

Also, use a sh*tty-sounding reverb like the AVerb.

Since the reverb signal is rather diffuse by nature and thus more difficult to evaluate properly, set the Gate to Sidechain and key it with the dry snare.

Christian

Also, use a sh*tty-sounding reverb like the AVerb.

One of S.D.'s bigger halls can work well too, especially EQ'ing it so it's thinner.

@RafMaravilla
Try experimenting with the attack/release to get different effects. A faster attack and slower-to-medium release can get you an effect which can sound like the reverb is being swallowed by the snare, once you've juggled these settings with predelay.

Does the gate go on the snare channel strip or the aux?

In addition to what I said above, I'd suggest also to use a pre fader send turned up fully and to group the dry channel and the reverb return, else the gate threshold changes with the snare level.

Christian