I think the only formula that may help in gambling is probability for roulette games, but i still believe math cannot affect to gambling games even you used probability because probability is all predicting the chances. I believe it is all about luck, so if you wanted to win you need to have good luck.
Even the probability for roulette games will not still help as the only thing that can help anyone is luck and for anyone that luck is not simply on his side, the possibility of losing hugely is still going to be there. Just as you have said, probability itself is trying to predict the level of chances and the possibilities of those coming to play and we all know it is still going to be very hard to predict what comes out next exactly.