bad risk management I'd say, no amount of luck will beat a bad enough risk management if you give the situation enough time to unroll
it's sad that some people risk and lose it all but we have to remember that is their responsibility after all
crazy how the world is...
Crazy it is and those that have been winning great but then are bad with risk management, that money that they've got will be gone in the wind quickly.
They think that luck comes at most times where in fact that it's not. And that's why every profit that someone makes from the bets that they do should be taken care of properly.
There is a lot of empirical evidence this is the case, as even those that win a big jackpot or the lottery soon enough find themselves facing all kinds of financial trouble despite all of the money they got, and it is not surprising this is the case, since they do not know the amount of effort that it would have taken to earn that money by working hard, so they spend that money thinking that it is never going to run out, until one day it does and they are left with a lot of debts they cannot pay.