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Indeed, investing in crypto is less risky than putting your money into gambling. Gambling relies purely on luck, as you mentioned whereas trading allows for better control over potential losses. Even in the worst-case scenario of trading you wouldn't necessarily lose all your money, but it might decrease.
To be safe in gambling you need to be wise and know exactly when to stop. It's important aswell not to exceed a limit of money you set before even starting to bet. Obviously, if you gamble less you'll lose less in the worst cases. Therefore, it's better to minimize your gambling activities but when you do gamble make sure you have a good chance to win.
If they understand it, they prefer investing in less risky cryptos rather than gambling. They can see the value of their investment will increase when the market starts to move upwards, so they can start taking profits. And this will divert their attention to gambling because they will be busy analyzing how much profit they want to make.
But in gambling, if they lose, they really lose their money and will find it difficult to recover their losses. But if they can control themselves so they don't cross the line, they won't experience a bigger defeat. They can also gamble moderately and enjoy gambling properly.
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I think the case is often so as described in the quotes for gamblers who thinks it's by there efforts or how knowledgeable they are to the games. In that instance, they seem to eliminate the element of luck, take huge risks or high odds and expect huge rewards as well.
Many times over they end up worst than they started but the little thing called hope pulls them back to it everytime.
Of course there could be such a thing as how knowledgeable you are when it comes to sportsbook but, not so much when it comes to casino games and even still, there is an element of luck about the games. That puts the probability statement in the way which means, you've got to be careful about the habits you endulge in while gambling.
That's because they think the hope of winning will always be there and call them to gamble again. That's what makes them return to gambling and still want to win. And even if they can't win this time, they will return a few days later and play another gambling game. They still feel they can win one day so they will spend the same money another day.
And if they want to bet on sports betting, they realize the need for knowledge to analyze matches to find the team that can win. This makes them continue to learn to analyze from various sources, but they also realize that the luck factor is still needed in gambling games.