Governments and several organisations work to encourage responsible gaming. This involves establishing betting restrictions, offering support to those who think they have a gambling problem, and participating in self-exclusion programmes.
not sure if it has been answered by other people here but in my opinion the method you say is unlikely to work smoothly and is not as easy as we think to manage these risks.
I will talk about online gambling (not land based gambling) setting betting limits will not quit those who want to bet large amounts and there are always ways such as using their friends or family accounts and setting betting limits will not be able to quit this. and then offering support, I admit it is very helpful for those who have problems with addiction but it does not rule out the possibility of stopping gamblers from betting recklessly because controlling emotions is always the end of all this.
and the self exclusion program may sound a little effective, but all of this requires a great deal of awareness for each gambler because if it is done forcefully, I think self exclusion will only be in vain.
with everything I said it does not mean I am skeptical in that way but for me its too complicated. I mean gambling responsibly and not spending a lot of money on gambling, its actually very easy, just understand self control and know how gambling is structured.