Frustration leads to anger
Some games are designed to be very frustrating in order to keep players hooked. Frustration can easily turn to anger if a person keeps getting frustrated.
Loss of self-esteem
Many gamers gain self-esteem by winning. When they lose, not only do they feel bad, but they might also experience a temporary loss of self-esteem.
The loss is interpreted in a bad way
Many Gamers take games personally and so when they lose they might associate the loss with their lack of skills, lack of good abilities or even intelligence.
They are very competitive
Competitive people, such as Type A personalities, hate losing. Those people might get very angry if they lose a game.
They feel humiliated
Some people feel humiliated when they lose. This humiliation could turn into anger easily.
Competing with humans
When a person plays an online game, or competes with a human, he is more likely to get angry if he loses, as the loss can be taken more personally because another human proved to be better than him.
They have a big ego
If a person has a big ego, or if he was a narcissist, he will usually hate to lose. When an egoistic person loses, especially when playing against a human, his ego will get hurt and so he might get very angry. (See Why frustration is an important part of game design)
The near-win effect
If a gamer loses while he was about to win then this will result in a very high level of frustration that could easily lead to anger. This can easily be seen when a player loses seconds before he beats a certain part of the game.
They are objective driven
Objective driven people play games in order to win, in addition to having fun. Those people hate to lose because it goes against their main objectives.
Hormone levels change
When a person loses his hormone levels change; for example, his testosterone goes lower. Those hormonal changes result in a bad feeling that could lead to anger. (See How does it feel like to have high levels of testosterone?)
Having to repeat all the effort
The fact that the person sometimes has to repeat a big amount of effort after losing could contribute to the anger felt.
Believing something was unfair
When a person loses he might believe that something unfair has happened and so he might get angry at the one causing that problem which can be the other player or even the game developers.
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