It's not because they just want to chase their loses. Those people who won big before like to experience it again so they will try to play over their limits. Others also don't want to cut their winning streak since why should they stopped if they are lucky.

That's a common situation already in gambling and even those professional ones are having a traits like that. For me, it's ok to play on limits as long as after doing gambling, they are in still on themselves without any changed towards their attitude.