Well, first and foremost, that "feeling in control of their fate" is never a reason. On the contrary, when gambling (at least as far as games of chance are concerned), that control is totally non-existent, unless you are setting the chances of winning to around 90%
But I'm not talking about reason here
It is more about feeling that way, i.e. feeling all-powerful, supreme, and godlike. We can't tame luck but when we win after losing, we feel like we are finally able to, even if for a brief moment. Indeed, this is all false objectively. But what we feel can't be fake or false subjectively, i.e. how we actually experience it. We are made to trust our feelings. Technically, this is how our brains are wired. That's also the reason why there are so many scams and frauds out there because they appeal directly to emotion which obfuscates and clouds our reason
But when I play dice, for example, I normally set it at 50%. The fun that comes from there is that out of that equal chances of winning and losing, if you turn out a winner, that somehow gives you a feeling that you are lucky. And since you (perhaps) love the metaphysical approach, it gives you the feeling that the universe is on your side. And that is fun; it gives you a light feeling
But that's what I'm talking about. You understandably feel good, but what is that feeling good made of? If you get the feeling that the universe is on your side, doesn't it mean that you are controlling your chances, i.e. things bending to your will and happening how you envisage them?