A drill bit made according to one embodiment may include a bit body having a longitudinal axis, a plurality of gamma sensors placed in the bit body, at least two gamma ray sensors in the plurality of sensors are spaced-apart from each other along the longitudinal axis of the bit body, wherein each such sensor in the plurality of sensors is configured to detect gamma rays from the formation during drilling of the wellbore and to provide signals representative of the detected gamma rays, and a circuit configured to process at least partially the signals from each of the at least two gamma ray sensors for estimating an inclination of the bit body relative to the longitudinal axis.