Both points are valid, you'll lost your control and that discipline when you start engaging too much, the best way in treating this activity is always be aware of your action, make sure that you are still in control not to allow your emotion and greed to dominate you in making any decision regarding to your gambling activities.
And always try to reduce that activity so we can still have control and discipline. However, limiting our gambling activities can keep us sober and not try to follow our emotions and egos, which can cause us to lose more money. And greed will dominate us to continue gambling activities until we really can't control it anymore and fall into the gambling trap. And it will get worse when you play gambling using borrowed money because apart from losing, you must also be able to return the loan money. If not, your life will be in danger because you will be chased by people who lend you money.