You referred to it as feelings or emotions, but based on your explanation, I think it's greed rather than emotion because the habit of a gambler setting a target amount to win when the game was said to mostly favor the house means that every gambler who is constantly after the amount to win through without proper risk management will always end up in a worse situation.
The severe losses in gambling can be caused by emotion and greedy. If can't control our emotion when we get a lose, we can end up with many losses because we are trying to recover the losses. And when we are winning, it can end up with losses as well because we are trying to win more (greedy). IMO, OP may assume greedy is also a part of the failure of controlling emotion when we are winning prizes. Sure, the gamblers who keep continuing playing the games without thinking of risk management, they can end up with unexpected situation (losing all money).
CMIIW
Since gambling was said to be a game of chance, greed is the root cause of the severe losses in gambling, though emotion and greed may also play a role. According to the theory, the house is heavily favored in every game, which should encourage all gamblers to play as much as they can afford to lose. Those who don't will basically want to recover their losses.
I believe this should be enough to show that greedy is the genesis of chasing losses and gambling addiction