For those venturing into the high-risk realm of investing, or what some may call gambling, emotion, and greed are like the two horses of the Apocalypse. People seem to lose their minds when they go in headfirst, their vision clouded by thoughts of money.
Like a friendly game of poker with coworkers on a Friday night, betting should be enjoyable regardless of the outcome. In a word, that makes me happy. It's no longer a game but rather a time bomb the moment people start risking their life money. The repercussions can be disastrous, both psychologically and monetarily.
Who am I, though, to dictate how others spend their hard-earned cash? They get to decide in the end. A little bit of caution is never a bad thing, though, you know?
But sadly we can take gambling as an investment because gambling outcome cant is predicted and for that gambling does not belong to an investment class, I agree with you on the part that you mentioned risk indeed gambling is a high-risk activity and unlike investment where you may lose profits but not capital but in gambling when you lose, you part away with both your stake amount and the profits.
This is the reason one needs to take full responsibility while gambling and only gamble with an amount you can part way with that will not affect you both financially or otherwise.