You shouldn’t even be worrying about losing if you’re a disciplined gambler, meaning you’re only betting what you can afford to lose. (That should be the basic rule.)
You are correct. A disciplined and responsible gambler would already have made budget for their gambling and that money is the money they know that even if they lose it, they will be alright.
What we should really be focusing on while gambling is how we manage our picks and bankroll, because at the end of the day, the goal is to win.
The goal is to win but to have as much fun on the process and even if you don't win the cash, as long as you didn't bet irresponsibly, it is still a win. A proper bankroll is still a win too.
Now, if you’re always chasing high odds, that also means your chances of winning drop.
And if you’re depending on luck to win, that’s not the right approach if you want to win consistently.
If the OP can give us some brief of his risk management strategy the advice given will be properly tailored to his decision to wanting to chase high odds.