To break free from the cycle of losses, the gambler has to gamble qualitatively. Have a budget, set a time frame for gambling and do not go above your budget or the time you have allocated to gambling. Have other outdoor habits too. These are the starting points or the baby steps that should be taken to break free from the cycle of losses.
Your solution would be helpful to gamblers but will be hard for gamblers to do, gamblers are known for gambling continuously without taking break. It isn't the best practice but still gamblers do it with hopes of winning as they believe the more they gamble the higher their chances.
Placing bets based on guess work will only lead you to losing. If you want to profit from sport betting then you have to familiarize with the sport that you're interested in betting on and get to know what make a teams to have advantage over the opportunity, like home advantage.
Another reason that make gamblers to lose in sport betting is because they become addicted. Sport betting can be very addictive as the games are interesting to watch and when you get some prediction right, you might get tempted to risk more money to make more profits then lose .