But the same basic principles apply to any form of chance. When we take a chance we want to win, but sometimes we lose. These are the two possible outcomes. Apart from the third possibility, which is somewhere in between - i.e. the partial loss or partial win, depending how you look at it. Winning can develop into a habit but losing is addictive.
Winners take less chances, losers take more.
This is because only a fraction of chances are worth taking and these are the ones winners seek out. Losers take poor chances while they are waiting for the good one to come along, perhaps because of the lure of high rewards or their belief in the so-called 'law of averages'. The 'law of averages' provides much-needed comfort to the loser. It is supposed to ensure that, no matter how much losing you do, there will come a day when you win and it all balances out. I think not.