You can lost everything if you gamble with a lot of money on risky gambles. The best way to gamble on sports is to put a lot of tickets with not much money.
i do not think that gambling is risky if you are expert in gambling then you will never lost your money there is many people join gambling without experience they lost their all money.
can you give some example? i don't think that its possible because even a pro gamblers can still lose they just can control to lessen and not to burned everything but keep winning inside gambling games might be hard to believe sorry to disagree with you mate.
edit:
my mistake mate i haven't pay attention in your last statement yeah as you mention they are not losing all their money since they already have a good self control as a pro gamblers..