Actually, we know about the risk, but we forget it after enjoying the game, which makes us spend more money and lose more. Before we gamble, we must have control over ourselves to control when the situation is not right for us. We will become rush in playing gambling, especially if we know that we already lose some money, which can make us drag inside the gambling.
one thing is knowing with our heads
a totally different thing is applying what we know.
if one has difficulty to control their emotions the best would be separating a fixed amount of money, preferentially no more than 1% of total money that they'd be willing to lose and would be fine with.
It depends on the person who handles the situation because there are a lot of people can't handle their emotions and if they think they want to earn more and take back their loses the urge to make money back is too hard to stop and sometimes it causes of losing your money or double your money it's all about gambling guys take the win or lose the game. But for me it's better, if we have risk management and identify what are the, exceeds on our fun and budget it's too hard if you lose all the things you have because of this kind of mistake. Actually, it's better if we have a stop loss and take profit too in gambling right?