That kind of emotions most of the time turns a gambler to deeper problem, when you regret a lot the chance that you might push yourself to play back repeat that same mistake, as you will keep following your instinct that luck will permits you, those who aim for bigger amount of winnings will place their bets against the public, if you aim high better to make sure that you have a full control of your emotions just in case things won't turn to your favor you can quickly move forward and forget about what happened.
many people who experience losses and other negative impacts are usually because they lose control and this loss of control begins with those who are emotional because they get results that are not in accordance with their expectations. besides that people like this usually put high hopes on a bet they make by thinking they can get a big win and make them go home with a bag full of money, but when emotions are out of control they will most likely only regret the behavior they previously did because it will make them continue to bet again and again.
You are right, we must be able to see ourselves, whether we are ready to lose what we bet or not because those who experience emotions are usually the type of people who are not ready to lose with their bets that are made until the defeat that occurs triggers their emotions and makes them lose control of themselves.
And with that they mostly added more money and repeat that same outcomes, betting against the public most of the time are being use by those experienced gamblers, they understand and they know how to work with emotions, if they lose then they let it go, as they know that there are many other opportunities if they will analyze and assess each underdogs that they will entrust their fate.
Self-control helps to manage your bankroll, with good grasp of it even how often you bet against the public you'll be able to lessen the amount of your loses as you know your limits and you know the risk that you take.