What I know is that, I lost on both, I placed bets on some sports games, I lost most and won a few, and just few days, I decide to try Solana memes, I lost all the money I used as capital for buying those meme coins, I lost all same day.
Gambling is fairer than such memecoins. At least when gambling you know what your chances are, what the house's chances are and what you can expect from it on long run. On the other hand, when investing in memecoins, you are promised the most wonderful returns by developers, although in the end you just lose your entire bankroll, as you mentioned above. I conclude that most memecoins shouldn't even be considered an investment or a gambling category, rather they should be considered ponzi or hyip schemes to scam money from naive investors.
Stay away from them. If you want to invest in altcoins, you have to be very careful on which of them you will pick. This market is tricky and treacherous. Whales manipulate the prices and don't care at all if average investors are going to lose their entire funds on the process.