I have noticed so many players are just gambling for the sake of profits only. But majority of them loses most of the games eventually as they are not smart players.
So how should we gamble in a smart way so that we do not get more frustrations due to continuous losses?
To be honest, if you are in pure luck base type of gamble, like casino or dice etc, the only way to smart play is to accept your losses, since they will happen. You can also set a exit limit both for your losses and for your winnings. This will allow you to cash out some winnings when you get lucky in the short term.
If you are talking about skill based gambling like, poker and sports betting, you should make both things in the previous scenario (accepting losses, and setting exit points for both profits and losses), but also invest in the improvement of your skill, so that your winning percentage will increase.