As such, it is not losses that herald the destruction of your financial well-being (or just well-being)
It is losses that come after a win, probably a big win on its own, which make the lives of so many gamblers miserable. In this manner of reasoning, it is not so much about controlling your losses, like no more than 10% of your daily income (though it is indeed about losses too) as about controlling your wins, however ironic it may sound. It is actually wins that make gamblers reckless and careless, so wins should be of our primary concern. To summarize, you should take utmost care of your wins lest you should lose control over your losses
Indeed, what destroys many gamblers is their wins, not losses. Wins make them addicted. It's not that I can't relate completely to that situation, I used to be like them when starting with gambling. But then I realized at some point that good wins rarely happen, and if you were lucky to have one, you better celebrate the occasion instead of risking to lose all your wins and more.
Once I won 0.17 in a poker tournament, and a friend of mine said to me: "Great! Now you can buy 17 tickets for similar tournaments with those money! Surely you will win more in the end." But I've never bought a single ticket worth 0.01 since then. In my opinion, luck plays too big of a part, even in games like poker, to risk what you can't afford to lose in one day.