Yes, if you are a fan of a team and then they take that loses specially in a close game and you have a bet on them, then our emotions and feel very sad.
Also, a match isn't considered a loss but if that match is a final, semi final or such a big match for example between two rivalry teams then it will be like this, but at the same time for us, even if the match isn't important in the context of the series but we place the bet and lose it, it's our lost booked and there are no second thoughts about it.
Match that are very important like the finals or semi finals are more hurtful if our team loses. I mean they are very close to winning it and probably might win the championship if they will get this one win. Unfortunately, the tide could change in the last minute or so, and they take that big L.
You can see that there are fans crying after seeing their favorite club lose in finals.