I don't see a reason why loss should be massive when in real sense you are meant to gamble with what you can afford to lose. ..
If everything was that simple, and everyone followed the rules and laws, then we would live in an ideal world. But the reality is that in the pursuit of illusory winnings, players lose not only their money, but also become debtors to banks and other people.
Having a rule to follow is one thing and following the rules is a different thing. We have laws in the country but still citizens break the law when they already know the consequences attached it to. It's same with gambling, very easy to set gambling rules but the moment that you are gambling and start losing your bet, the whole mentality changes entirely, and you will forget about your gambling rules and broke it because you are after profit.