Undoubtedly, without a good study, profits from participating in the IEO or ICO can only be obtained by chance, if you are really lucky.
But don't count on luck, the crypto market is not a place for betting on luck, if you really want to make money, you need to work hard and constantly, which means that you need to study new information and conduct ongoing research and analysis. There are many projects on the market, but your task is to find only the good and the one that will be successful.
If people want to play the game of luck, there is a place specially create for that, and that is gambling section, but if we are to talk of the real world of investment and earning, one has to really work for it as said by you. It is not so easy to come by a very good project, any project that we want to have part in has to be thoroughly checked and researched in to be sure that we are personally convinced about the project, a project we participate in without a string conviction will only end up being a failed project and we will have ourselves to be blamed for it .
I perfectly understand that finding these projects has never been easy because they could really be convincing, but in every bad project, there will always be their weal point, which is what we are there to find out and be using as a criterion to getting them off our portfolio.