There is no fun in gambling if you can not only risk the amount of money you can afford to lose, if you risk more and you gamble more, you will lose more and it will become a problem. There are psychological effect in gambling, you lose and you use an amount you can afford to lose, you are not depressed, if you lose and you are used an amount too big for you to afford to lose, you are depressed. If you see gambling as income, you can use higher amount for it and lead to depression, your friend do not see gambling like that is the reason.
You cannot win every game in gambling so you need to prepare yourself that you can face the loss too. If you have prepared on how to handle the loss, then you will still drive the pleasure out of a loss (though it won't be similar to a win). In order to be prepared for a loss, the best and the most important thing which you need to do is to do risk management. Without risk management, you will lose all your capital.
