Investing in ICOs is very risky as you are throwing money to fund a project that is still in development.
However if you do your research good and find the strong ICOs, then they will give you the best returns. Remember that ETH was sold for 0.3$ on it ICO back in 2014

Risky? it is risky for those who do not even know in which project are they throwing their money just like you are saying. Please, make a little research before calling ico's scam or whatever you want.