In general, the best way to bet is to first allocate how much money you can lose in the Game , and as a second option, not have more money to spend. You have to be very disciplined in this , then bet and enjoy the emotions at their peak, feel that adrenaline and pleasure when playing and Betting, and when you reach the limit you have set for yourself, then stop playing and go another day.
I agree with the gambling approach you have outlined - but I am not sure every gambler can be that disciplined with their gambling. The best approach to gambling in my opinion is to know your limits - of course this is about setting a gambling budget, limiting the time you play and being able to control your emotions. Honestly setting such limits in gambling is easy to say - but hard to implement consistently.
It is no wonder that we find gamblers breaking their own limits - they are under so much pressure and the illusion of a big win always makes them ruin their plans. Gambling is strange sometimes - it can turn anyone who was previously disciplined with their approach into a bad gambler.