The gambling mentality vs the investing mentality

I am by no means a great player but one of the fundamental differences I've seen between high elo and low elo players is that low elo players have a gambling mentality while high elo players have an investing mentality.

What I mean by this is that low elo players will go for high risk decisions that are exciting but may cost them a lot. High elo players are more likely to be more selective and focus on choosing key times where it is advantageous to be aggressive but the rest of the time they are passive. High elo players are more patient and invest in strategies that have much higher chances of success but that may take longer or be more boring.

I'll use an example. What if I gave you two choices. Your first choice is to play a game where you have a 50% change to win $300 and a 50% chance to lose $300. Your second choice is to get a guaranteed $50. Which would you choose?

Most of us would take the free $50 because it's free and we don't really want to risk our hard earned money. In league terms option 1 is all inning your opponent and option 2 is just playing passive and last hitting better than your opponent. Even though in real life most of us would choose option 2 in league we see the exact opposite. Time and time again in low elo we see people choosing risky option 1 and all inning their opponents rather than playing safe and farming until they have a clear advantage.

Do you think this difference in mentality exists? If so, what do you think causes it?