It is a sign of being addicted in gambling. I honestly got the same experience of it before but not too much, as I remember it happened to me only two times, I had a weekly campaign that I joined before and after I got payed every week I spend it all on gambling after I lose all of it in that week, and bet again the other week with a thought that I will recover what I had lose, but ends up losing all of it
That's the magic that is on gambling, when you lose you want to come back again to at least to recover your losses, but instead
you add greater losses, and you want to stop but you will definitely return because you still think you can profit from gambling..
I would not call that a magic but just one place so many gamblers have decided to place them-selves. The mindset towards gambling is actually the driving factor for most gamblers to end up getting greedy and expecting so much from something that is totally luck based.
This is the reason why when reality sets in, they start getting emotional, hoping if they could just win back what they started with, they would stop and then they keep losing even more until they get addicted. That is the greedy nature at work.