Most gamblers, at least those who do it regularly and possibly have a problem, will not have any sort of limit built in to their winning upside and often take all their winnings to plow it straight back in. You're trying to frame this as an activity where most people have control and are taking calculated risks, but often they are simply guessing and finding enjoyment from the buzz or habitual nature of the activity. I have not come across many gamblers, but the ones I've seen often look a bit robotic - like they are trapped in a nasty cycle of self abuse and look fairly miserable (when thinking about people sat around in slot machine arcades). That makes me think there is zero strategy involved and even if they did have a big win, it would probably not even outweigh all the money they had poured into it up to that point.
While some individuals do engage in gambling as a form of entertainment or to test their skills, a significant portion of gamblers, particularly those who gamble regularly or excessively, often exhibit problematic patterns. The allure of gambling lies in its potential for quick and substantial financial gains. This potential reward is often overshadowed by the high probability of losses. Many gamblers tend to chase their losses, and then try to recoup the losses. This behavior often leads to a vicious cycle of financial strain and emotional distress.
The repetitive nature of the game, coupled with the intermittent rewards, can create a mentally loop that reinforces the gambling behavior. This can lead to a state of detachment and a loss of control over one's actions. The notion that a single big win can outweigh all the previous losses is a fallacy that often traps gamblers in a cycle of addiction. The overall pattern of losses far outweighs any occasional wins.