I think the reason why people even chase loss in the first place is thinking about their lucky and unlucky days as you said,
Aside from that when a person is hooked to gambling, they develop fallacy that and believe that if they continue to gamble, they will hit it big eventually. But sadly, uncontrolled gambling always bring losses since even if they hit it big, they can't stop themselves from gambling until they losses all their winnings. It is really important to know when to stop or take a break when losing streak hits us. It saves us from frustration and unwise bankroll spending.
Some gamblers has forgotten that chasing of lose will be a very wrong approach for a gambler, having the mindset of what have gone in the past is gone and concentrating on your next move as a gambler will help you get over your loss, as a gambler you should always tell yourself the truth and know the truth itself which is knowing that losing is inevitable, being aware of this will give gamblers peace and put them on the right track, your conclusions are very right, having daily, weekly budget as it suits individual gambler is a nice idea instead gambling with all the funds available.
Yeah self-awareness, self discipline and bankroll management is needed to be learned and exercise else we will find ourselves emptied out of funds. It is also good to have fix budget for gambling for it saves us from overspending that may result to financial stress.
Btw, I saw this on X reposted by rainbet, (originally posted by @vaske1x):
What a lucky guy, he turned his 10-cent bet to $432.89 on a Drop Em slot. That is a whooping 4320x! Do any of us here have this kind of huge win on Rainbet?