Source : https://www.psychiatry.org/patients-families/gambling-disorder/what-is-gambling-disorder
In the last few hours I personally do self-introspection and analyze these symptoms may be in myself, family or friends. and as a result there are some of my friends who do seem to have these symptoms ;
1. Should I shut up and watch him continue gambling.
2. Or risk the friendship to fall apart by suggesting him to go to a psychiatrist, because because in my place people who go to a psychiatrist are identical to people who have mental disorders.
Unfortunately you can give advice but you cannot change somebody who does not want to change. Often it takes a certain self realization that what they are doing is futile and wasteful, a conclusion that they have to establish themselves in order to start on the road to recovery. Pretty much everything you specified applies to other addictions like alcohol and drugs. You can always try to explain in logical ways - like the fact that Las Vegas wasn't paid for by winners, but some people simply do not understand the mathematics behind it or will constantly chase the dream that they deserve to be the lucky one. People who do things like chase losses will often concoct some bizarre sequence that they will soon win, when in actual fact every bet is totally independent from previous bets and the odds are almost always against them. The best you can do is try to help when they want to break free but definitely do not give them cash or anything that could be used to further fund an uncontrolled habit.