I think many of them known or have an idea on how much they're going to lose but they just turn their eyes blind when they're already losing.
Ego is hard to beat and recovering is much easier to think of than accepting the big losses that someone might have.
Those that can't track their losses or don't really track at all, many gamblers do that. They're having hard time in figuring out how much budget they will do to gamble.
That's when they go too far because at this rate they cannot stop themselves anymore when they use the money they aren't supposed to. Others are moderate when it comes to their gaming and that can also lead to addiction for others especially if they develop hyper-excitement when they are playing this happens to lots of people when they have lots of buddies who often play with them because it's not a matter of habit anymore, it becomes a matter of prestige and merit on who will gonna win big and they compete with that without taking precautions of the consequences in their future.
Rightly said that everyone knows that the risk in gambling is high so gamblers should know the positive and negative aspects of gambling well. If you can't control yourself it will lead to more serious problems if it becomes a habit it is the excitement of gambling that drives more than financial gain. Most of the time is passed by gambling or thinking about gambling all these reasons are ready to make big bets day in and day out in losses. Therefore it is better to have a clear understanding and be alert to the potential risks of this activity.
Yes everyone knows that gambling has risks but I don't think that everyone knows about the high percentage of risk that exists in gambling so that more of them seem to rule out the possibility of risk in gambling and instead are more concerned with their point of view on the chances of winning so this is what makes more of the gamblers who act excessively just to pursue a victory that has no certainty, all of this starts from the encouragement of high enough expectations to get the results they want which is basically not easy to get.
This is the result of having a wrong understanding of gambling, you will remain stubborn in the beliefs that you think are right even though on the other hand all your beliefs in victory are indirectly a path to deeper adversity, because after all gambling is not a place to earn, but just a game of chance that will not always be able to go according to what you want, so of course the main thing that must be corrected is understanding and mindset, people who have the right understanding will not dare to act too carelessly because they know that there is absolutely no certainty and guarantee.