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.
Saying things like "teach them how to control themselves" or "teach them how to gamble with moderation" or "teach them how to limit their gambling spending" is easy but in reality, teaching them is very hard especially most of them are adults already.
They know what they are doing right now and they are not like 5 year old kiddos out there where you can still teach them and they will follow what you said. They will just follow if they experienced something bad that can change their lives for a long time or maybe forever. Educating gamblers isn't as easy as you said bruh. The best thing to educate them is to let them learn themselves. Let them experience the bad and good things about gambling and they are the one to adjust whether they will continue or not.