What I took away from this experience is how the mentality of gamblers can change after a win. The thrill of success often leaves us wanting more and in this case it seemed like my friend was caught in that cycle, as I was feeling before too and he was unable to honor his word probably because he wanted to keep increasing his gains and bet more. It's a reminder that the brain is never truly satisfied when gambling, there's always the desire for more. I believe that friend deserves an advice, but I don’t want to embarrass him myself, is there a good way to talk to him without making him feel that Im indirectly asking him for the money he promised me?
There's no other way. You have to tell him directly, like to honor his promise about giving you 10% of his winning, but if its ok for you and he did not honor it, then you also have to directly tell him, because if you do not and he loses all the money he won, he will end up blaming you for not reminding him about your shares that he promised.
I experienced that myself and was blamed for not reminding the guy of what was promised to me. Gamblers have twisted minds when winning and losing it afterwards.

One thing you should know about humans and promises is that, it is easy to make promises for them when the dice have not roll in their favor, but when the Dice finally roll in their favor, they will act as if the have forgotten all that have been promised by them, playing along with them will only lead you into losing that your own percentage, so the best thing to do is that, you have to ask him for the 10% you both agreed on as your own expected percentage when and if he eventually wins, and now that he has won, you have to press home your demands for your 10percent, gambler are easily carried away with the excitement of winning in some cases and this could effect their emotions greatly so one need to constantly keep them in check to know and remind them what they need to do as long as promises and agreement is concerned.
And the earlier you do this the better for you because if you waste too much time on this demands, you know how gambler's behave very soon he may tell you that he have gambled away all the winnings and have nothing left to settle you of your 10 %, so delay is dangerous for you at this point in time and you need to act fast, unless you want to lose your entitlement at the end of the day.