Have you ever found yourself doing this?

[suzanne5223]

It is normal for things like this to happen cause it is part of what makes us human. However, it is always first to consider risk management, not the chance of making a profit, when it comes to gambling. This is the area I believe you ignore, which led to your huge loss through the betting you took.
Meanwhile, we also have the situation where the gamblers will put into consideration the risk management but fail to follow it due to a lack of gambling psychology that every game played or bet placed comes with a lower chance of winning against the house.