Decision response and feedback in gambling are interrelated. Different decisions lead to different ranges of feedback, which in turn influences subsequent decisions. However, the mechanism underlying the continuous decision-feedback process is still left unveiled. To fulfill this gap, we applied the hidden Markov model (HMM) to the gambling electroencephalogram (EEG) data to characterize the dynamics of this process. Furthermore, we explored the differences between distinct decision responses (i.e. choose large or small bets) or distinct feedback (i.e. win or loss outcomes) in corresponding phases. We demonstrated that the processing stages in decision-feedback process including strategy adjustment and visual information processing can be characterized by distinct brain networks. Moreover, time-varying networks showed, after decision response, large bet recruited more resources from right frontal and right center cortices while small bet was more related to the activation of the left frontal lobe. Concerning feedback, networks of win feedback showed a strong right frontal and right center pattern, while an information flow originating from the left frontal lobe to the middle frontal lobe was observed in loss feedback. Taken together, these findings shed light on general principles of natural decision-feedback and may contribute to the design of biologically inspired, participant-independent decision-feedback systems.