I know some friends who started becoming addicted to football gambling.
Losing tons and still winning out some in the long run.
Eventually they learned they lesson and are still winning big time by betting at only matches they know more about.
That is really sad to hear because people are losing so much money and that too it is not that they are super rich and it wont effect them. People try to make money from gambling and forgetting that hardly few only win and rest of them will lose their money.
Most of the world population consists of mediocre and poor. There is only a little portion that is actually rich and losing few thousand dollars wont hurt them in any way. Otherwise, for a common man this amount means a lot. Like you have already mentioned, most players will be losing money and that is not easy for them to digest.