Gambling is so unpredictable and you wouldn't know when you would be experiencing winning in whatever game they are playing that is why most people usually go with a higher bet size in preparation to have a big win, as I have came to understand that the higher your stake power, the higher your winning ratios.
Yes. You'll get more reward if you risk more, but vice versa, you'll also end up losing more if you don't manage your bankroll. Just like you said, gambling is highly unpredictable, so, for me, I would rather bet small and get a chance to win that jackpot multiplier than bet big and lose it all faster than a cheetah running after a rabbit.

I agree that proper bankroll management is essential in gambling, and betting small can prolong playtime while chasing potential wins. However, the inherent house edge ensures that, over the long term, most players lose. This mathematical advantage means casinos retain a percentage of every bet (typically 2-5% for table games like blackjack or roulette, and up to 15% for slots). A study analyzing over 700,000 online gamblers found that only 4% profited over five years, while 96% incurred losses ... which is ... enormous.
Statistically, the expected value is negative; for every $100 wagered with a 5% edge, you lose $5 on average. Over time, variance evens out, leading to net losses. IMO, responsible gambling involves recognizing this and setting strict limits!