I don't align with your thought that there is nothing like "wise gambling'. That's not true. Of a truth, the idea behind advocating for wise gambling is to ensure that losses are mitigated and controlled as you have noted. When you gamble wisely you will not have an irreparable loss or chase losses and so you will be far from involving in compulsive gambling.
Gambling wisely is should not be taken
ad litteram and make it sound like a bullet proof way of gambling and making money.
Wissey is more about things you shouldn't do
- never panic and make rush last moment decisions
- don't bet on stuff you have no idea about just because you need to recoups your loses today and there is ..football match for example and only hockey
- don't bet extra because you "have a feeling"
- stick to a strategy that ahs proven in the past to yield a net, despite loses you earn a bit more
- never do stupid shit like martingale or other probabilistic nightmare
- don't bet 1000x time just because you think this impossible to not happen at 1.05! just 4 hours ago I saw a 1.15 horse getting beat by an adversary who was one month ago 50 lengths behind them (50 lengths means usually the winner is in the shower and the other guy hasn't finished the race)
So wisely is more about a lots of no that a lots of do this and that!