So, from your own understanding, what do you think makes people chase loses aside greed which I believe many of us are already familier with?.
When we want to recover back our losses, it's not often because of greed but I think it is more on the feeling of unable to accept the fact that you lost your money by playing. The eagerness to recover it is a human nature since we don't want to give up the money especially if our main desire when we decided to use it in gambling is to gain in snap (and that's greed).
Well, it's understandable to have such intention everytime we face losses. However, it's not a good habit since it can only lead to further losses if you can't control yourself. The reason why it is crucial that before you use your money in gambling, be aware of the consequences especially if you're not fortunate to win.
But still deep down there's some greed in such desire. Because at first one wasn't force to gamble he or she actually choose to . So as a gambler one should always be aware that either they lose or win . That's why is always advisable to gamble with money you can afford to lose, so that if one endup losing by any chances he or she can easily let go for a while and gamble another time when Their thinking straight instead chasing after losses and same time , endup making rash decision that may lead to more losses.
The point is that a gambler is required to have an overall correct understanding of how gambling actually is, on the other hand, it is true as you say that there is no coercion at all from any party that forces them to gamble, which means they gamble on their own will and decision, therefore if in the end they experience a downturn then they themselves must be blamed for treating gambling in the wrong way.
Actually, in my opinion, for the problem of adverse effects it depends on how they understand gambling itself, because if for example they do not understand the whole about gambling and only see in terms of winning opportunities, it is clear that most likely they will only lead themselves to many downturns, one of which is experiencing a greater amount of loss as you said, because if they understand that the risks in gambling can never be avoided completely, it is less likely for them to take various actions that will only harm themselves.