Most folks do go all out in gambling when they are frustrated most times , due to some certain losses and the mindset of always trying to get back their losses back by gambling or staking huge amounts of money that’s why gambling is not for the weak as folks usually say because if you don’t have good self control you only messed yourself up .
I wouldn't go as far as saying "most people", because i don't think there's any data on that. And i don't even know if it's possible to get accurate data from that, because being "frustrated" is a spectrum.
And i am not sure what's your definition is for the weak, as it sounds like the man from this story wasn't the weak one. He had self control not to put too much money in, even if he regret the bet later on. Regret of missing out is quite normal, but it only happens when you wouldn't have lost the initial bet. And no one would know that beforehand.