Yes investing in ICOs is risky, but it's not exactly like gambling especially if we do proper research.. In the near future, I think we will no longer need to spend so much time researching different projects since a decentralized ICO marketplace called Menlo.one will launching its token sale this July. How is this related to minimizing risks? Their CEO announced that they have found a way to help with most issues ICO investors face. Link to their whitepaper:
https://www.menlo.one/