I mostly do it because, to some extent, it reminds me of a few of my previous failed businesses and it gives me some satisfaction whenever I get it right [I only use small amounts, so regardless of the result, it has little to no impact on my other funds]... It's safe to say that despite doing enough research & analyzing different things, most of us here still tend to lose most of our bets, so for me, it's really fun to experience the moment I'd get lucky with my picks.
That is how it works, because if we have "fun" then losing isn't a big problem for us, it's just in exchange for the fun we get. I have always said the same thing, people spend countless amounts of money on fun stuff all around the world, and yet they are shocked about gamblers. Sure if you are losing all you have in gambling then it is terrible and you should stop. But if you limit your losses, then who cares about any of this?
Women go buy bags and shoes and makeup all the time, think of it like we are using the same amount of money on gambling. Some guys go to watch sports games, some play games on pc, and some just like to gamble with the same amount of money, nothing wrong with that as long as you do not overdo it.