I think Greed is only the big mistake in gambling.
Well greed is the most known thing that let people make mistakes because they get addicted to gambling because of that.
Yes totally agree with you.
yes, sinking into greed when gambling, is a fatal mistake. it can affect the long term. could have it, makes you have a lot of debt, because they want to win the stakes in gambling with a great gift.
trying to chase loses and when you already abstain it greed came up and make you try even more to aim for another or additional winnings, so instead of covering your loses when greed showed you are not in control anymore and it was a great mistake for you after you lose everything in your pocket better know your limitation to avoid this big mistake again.
The unending cycle of gamblers are (for losing streak in BTC) Loss of profit - Loss of Bankroll - Deposit BTC (to regain what you lost) - Lost Deposited BTC (Gets angry and unsatisfied) - Deposit - Loss again. This cycle could happen in just a day. A gambler addict person would probably do that and maybe happened to them already because they think the luck can change. It could but probably also has a low chance. It's all about the risk involved.