Obviously I didn't not attempt to cover ever possible case and personality you can think of that wasn't the goal anyway. Someone who gambles doesn't fall in the category of "risk intolerant" anyway. Beside that in "traditional" gambling the odds are against you so the whole risk/reward ration is out the window and "only a small lose over your whole lifetime" doesn't change this.

I would never encourage anyone to just trow money any anything that could potentially somehow give you more back. Roulette, lottery etc. are all statistically against you and you have zero way to choose clever or otherwise affect the outcome in your favor. Buying something with speculative value is completely different and it certainly is a good idea to actually inform yourself first about what yo buy. If you subjectively think the chance of loosing everything is over 50% I would look for something else after all the goal is to not lose so it should not be a blind throw it should just be something with high risk AND high reward.

I know someone who intentionally bough some rare apple device for like 1.1k. Fully aware that it might be worthless soon or break and loose most of its value. But it had a realist chance to gain value and it did, he sold it for over 10k 5 years later. Thats about +800% a risk/reward ration that does make sense.

If the odds are obviously against you its not useful ofc. If you think there is a 50% chance you lose everything then you should also see a 50% chance that you make over 100% profit if that is not realistic its probably not the right thing.