A gambler will always gamble for the thrill and the challenge, and for the show off. I have read that multi-millionaires and billionaires in our country still frequent casinos, showing off to others how they can easily burn through money.
Millionaires love to brag about their wealth; they enjoy showing others that money is not an issue, so even if they have infinite wealth, they will still gamble to prove it.
It doesn’t take much intelligence to lose money — I don’t understand how that could be a reason to show off or feel superior. Now, if those millionaires were showing that, alongside making money from their main ventures, they were also winning big at the casino — that could be seen as something impressive, something like what you’re describing.
But just flaunting the fact that you can afford to lose a large amount — so what? You lost it. Anyone can do that.