I think at the point where gamblers sell their assets and properties is way beyond the point of simple panic. The panic comes immediately after losing. In my experience if you can hold out the panicky feeling without trying to win your lost money back by doubling down then that panicky feeling settles down and you feel alright again. Or if you are out of money that you have with you at that moment, same result.
If gambler sells their assets and property just to gamble it is possible that these players are already gambling addict. There is no person in their right mind who sells his property and gambles it away. Only players that has gambling disorder will do this kind of thing. It isn't because of chasing losses but because of an uncontrollable urge to gamble.
The people who take out their assets and properties belong in a different class of panic-gambler. I think. As they do not calm down, even days or weeks after gambling.
It looks like a problem gambler to me.
Getting addicted to gamble is very difficult to come out from it but some people don't even know when they are becoming addicted. Trying to be discipline to have self control in gambling can help no to be addicted. Having control to stop gambling at anytime is a good way to get into depression.
There are institutions that are willing to help addicted gambler to regain control over their gambling habits. We are lucky today that there are institutions that cures gambling addiction unlike in ancient times when no institution is available to help those who fell victim to gambling addiction.