True, IMO gambling should be pursued purely for entertainment and not as a financial investment because it's highly risky, and you can lose a lot of amount of money very quickly. It's better to see it as a way to have fun and to set strict budget limits.
I'm pretty sure you'll need the money you might spend on gambling someday so you have to think twice before gambling.
The risk of gambling should be well understood before we get into it. With most of the gamblers, the beginning days used to be fun and entertaining. As days pass the focus would be much on making money as they have begun to loss. From the very beginning unlike the win/loss one should have his limits set and need to stick to it. Very few does things in the right way and follow it strictly while the majority used to be changing minds depending on the won/loss.
Thinking twice before gambling could keep you at the right place than just spending and feeling bad for the loss. Everything beyond limits ruin life, and gambling isn't an exception. Only the luckiest succeed whereas the rest suffers.