IMO There is no smart or profitable way to gamble, it's just random and there is a good possibility to lose as a possibility to win "and actually lower with the house edge".. I think of gambling more of a fun rather than actual investment or a method to get actual profit.
gambling is a place of entertainment and as these all are games so if a person will have good experience in playing any games of these then he will be smart and those who will not spend all of his money at once then he will also be smart.
yeah you are right that gambling is the place of entertainment and people get a lot of fun and enjoyment you are right if you are expert in gambling then you can get a huge profit from gambling.