Sorry, but this is a nonsense. I do not think I have provably a player who lost 1M (but I am sure there are a few), but I have many 6 figures losers. I personally lost over 1M at Pinnacle (and won more elsewhere from hedge bets). People do not have to deposit it all at once. Those big losers lose it during many months or even years.
But one does not have to lose 6 figures. Even 5 or 4 are for most people something big and honestly even if normal people lose 3 figures they are retards.
But everyone thinks this is about money, money, money. But it is about the habit, about obsession, about throwing ones life away. I lost 4 years of my life when I was teenager with gambling. I was losing just 2 figures/month, I definitely could afford it financially, but I could do simply some other things instead of hoping for some miracle. I was very close to self-destruction, because my thinking was flawed and the brain started to work quite bad. That is the issue for low stake players. In Macedonia I met a gambler who was ruining his life with stakes 1-5 EUR. He was annoying to himself and to people around him. Good for nothing loser. This low stake betting also ruins lives and since there are much more poor bettors, it is even a bigger problem. There is no safe amount that can prevent the gambling habit. The habit itself is a big problem. The fact that we have relatively small money from small gamblers, does not mean that those gamblers do not have problems. There is no equation that their harm is exactly proportional to our benefit.
And for the whales and that they can afford to lose the big money. I met some wealthy people and really no one acted like a fool. On the contrary, the most rich people drove normal cars, had normal clothes and definitely cared about prices. Some of them even obsessively (guy who flipped company for maybe 100M wrote a blogpost how he is cutting his expenses by 40USD because he cancelled tivo).
I really believe that people who are losing the big money are not those who can afford it financially. People who can afford it are those who have more. And those who have more are by majority those who made the money and those people are not stupid or those who inherited it or golddiggers or such. So the second group is gambling. And they gamble down to the felt. And since it is this thread, it is obvious why. Those people feel guilt for the money they have out of blue. They need to get rid of it. The desperation of those poor guys and bitches is big. So if I have to be a cynic, we are helping them. But ofc that is just another excuse.
If you talk to God, you are praying; If God talks to you, you have schizophrenia.