I consider altcoin investing a sort of gambling investment since it seems to be so damn random. Sure, you can invest with better odds than going into the casino, but its still a risky investment, so it would qualify the definition of risky investment.
Well, the problem with many alt coins is that many are not made with the intention to be a competitor to bitcoin, after all the only way any of this new coins will have a chance is if they did everything that bitcoin did and then more, but a lot of this coins are just copycats so is very obvious that the developers of this copycat coins are just trying to cash on the fame of bitcoin.
Yes, rather investing into altcoins, it would be better to use your bitcoins for the purpose of gambling, at least you can have some entertainment for the money you are spending unlike facing losses with alt-coin investments when they get dumped. Still I'm not encouraging going for gambling, but at least with a gambling we can have the purpose fulfilled what we are planning.
There is some money to be made out of altcoins no doubt about that but I really doubt that there are that many people that have the money and knowledge to take advantage of that, on the other hand some people always recommend to invest the money and they forget that money is also meant to be spent, not all of it, but some.