Thing is, you can turn the equation into a system and isolate the luck factor in one of the equations while trying to bring all the accountable factors on to the first part of the equation. If you do that, you will be able to use a technique coupled with other techniques that will surely be profitable if you know how to use it.
What? It's not possible to isolate the luck factor. If that were the case, these games would be skill based games which makes zero sense if you think about it.
All strategies(Short-term and Long-term) aren't capable of getting rid of the luck factor. However, it's possible to reduce dependence on luck through skill based games like Poker, Sports betting etc.