I think that the regulations and rules that were set in place by many governments are not sufficient enough to prevent gamblers from making drastic actions in their lives, especially to those facing severe depression, anxiety and addiction in gambling and other things related to it. Mental health I think should also be considered as a big loss would definitely affect their capability to interact in the real world. Make laws that would only allow gamblers with a strong mental faculty and just allow those who don't to only play lottery and small town legal gambling that only needs very small bets.
Education my man, instead banning it, making all sort of regulations, isn't it easier to educate people and to teach them how to have fun and maybe win some money, but never to risk more they can afford to lose..Controling yourself is what you can learn to do, also you can learn how you can enjoy in risky gambling but to not get harmed too much if things go wrong way.
Restrictions, limitations, is not good when they are imposed.