The first strategy (the blackjack strategy) is a positive expectation strategy, assuming you can develop the skills involved, and also assuming that you have the self-discipline to follow it. A positive expectation strategy is one which can expect to win money over a long enough period of time. In the short term, anything can happen, but in the long run, gamblers with a positive expectation strategy expect to win more than they lose.
The second strategy (the slot machine strategy) is a negative expectation strategy. Slot machines are a negative expectation game, and even reasonable money management tactics like the one outlined above wont overcome the games built in mathematical disadvantage over the long run