Many people have more things going on in their lives except their bank account. Family, spouse, children, friends. Losing them is what real loss means to me.
Unsurprisingly, it is easy to lose your spouse, children, etc. if you're at the point where you've already lost all your money. Because very likely, you've also lost their money in the process. I've seen people lose their family and friends, too.
People take out mortgages, credit card loans, loan money from friends, family, colleagues. Are intentionally opaque about their financial situation.
Then if things go bust, and people want their money back, they're stuck alone with the mess.
What kind of business would benefit from you betting your children on it? Sure you can easily burn all of those by working too much, but that is a trade and not a bet.
People take out mortgages, credit card loans, loan money from friends, family, colleagues. Are intentionally opaque about their financial situation.
Then if things go bust, and people want their money back, they're stuck alone with the mess.
At its core, it's due to breach of trust.