This idea is correct. However, there are still a lot of people or gamblers as we say, that are still aiming to get good profit even it means they're risking their payroll. I have seen a lot of people who's been broke but still pursuing gambling in hopes to hit the jackpot sometime in the future.
I'm not sure what's their motivation behind all these, but its's just too pitiful that most of them are a family man. They are not actually destroying themselves, but destroying their children's future as well.
I think that for such players the main goal is no longer to hit the jackpot but simply to win back what they lost before. And in gambling this becomes a huge trap when you focus only on trying to recover your losses. People who cannot accept their previous defeats and just move on will fall into this trap and constantly chase their losses. But if they have already experienced big losses before I doubt anything will change for them now. They will keep losing although what they really should do is just stop.
Personally, I don't believe that those gamblers who are always gambling despite consecutive their losses, are not chasing their losses because if they win back their losses, they wouldn't stop gambling forever. Instead, they'll start thinking of winning big, which becomes a trap to gamblers in order for them to continue playing irrespective of their losses. A gambler that wouldn't let go of his losses, is gambling for profit.