There’s absolutely nothing wrong with gambling as long as it’s done in moderation. You need to maie sure that you’re only gambling with amounts that you can afford to lose. For example gamboing with the rent or electric bill money is a big NO NO.
You also need to know when to walk away if you’re on a losing streak.
It's the same as drinking, as long as it's done in moderation there isn't a problem. The gambling addicts give a bad name to the regular Joes that like to place a few bets every now and then.
A lot of people can't walk away from a losing streak. In their minds they believe that a win is due because of all the previous losses. Well, it doesn't work that way. You have the same odds every bet regardless of the previous outcomes.
You are absolutely right about the odds, but nevertheless all of us, I think, do martingale from time to time just for the hell of it.
What also caught my attention in your post is the alleged impossibility of walking away from a losing streak for some people. Is that really so hard to do? I mean, I understand that it's almost impossible when having money on your gambling balance, but you can deposit every day exactly the amount you can afford to lose in one day, and in case of losing it just quit for the day. Of course there are gamblers who would start depositing again right away after losing, but for the majority of gamblers a small time gap is what is needed for settling their mind after a losing streak. If they had money on balance they would bet right away without thinking (as all of us would), but if there was a minute to stop and think(as it is the case when they have to make a new deposit), they wouldn't act so stupid, I'm sure.