I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?
The only thing which comes to my mind is that gamblers in general are greedy. That's the only reason they always lose the profit which they gain from winning. If gamblers overcome the habit of greediness, they can earn good amount of money from gambling.