Look, I have to disagree with you only on the part where you say that players tend to stop playing when they reach their loss limit, I believe that many players unfortunately tend to bet more and more as they lose in order to try to cover their losses.
Yes, this is always the case that happened to the majority of gamblers.
Setting up a budget doesn't really work since they are just tempting themselves to gamble more.
If they win, they will still continue to gamble since they are lucky. If they lose, they will still continue to gamble to recover their recent losses. Whatever the result of their gambling session, regardless of the situation, whether they winning or losing, they will still continue to gamble as their adrenaline tells them to do so.
Setting up a budget per session is not an effective way to minimize loss. It's better to force ourselves to have self-discipline when to stop.
Overall what you are saying is a common thing for many gamblers, most of the gamblers will do the same habit as you said.
I think the real problem is how to limit ourselves, sometimes we don't really know when is the right time to stop playing, especially when we are getting consecutive wins, and vice versa.
sometimes we often forget and get carried away in every game regardless of winning or losing, I think it is not appropriate if discipline can prevent or limit each game session, I prefer to involve self-awareness and responsibility in gambling activities.