Sometimes I think luck is a place of mental peace because when we lose most of the time we blame luck similarly if we win, it is because of luck (in most time betting /gambling). In fact what should your own feeling be? This question may seem to most of us gamblers that if an experienced gambler loses the same way, then how is it possible to identify the main algorithm of gambling?
You just have to understand that luck and gambling are 5&6. They work hand in hand. I still wonder why some people just don't want to believe that gambling is all about being lucky. There's nothing to study about gambling neither can you study how an algorithm calculates. It's difficult to predict these games most time but we still go ahead to gamble because we believe that there is that one out of a million trails that would actually result to something worth our time.
In some games the algorithms may work, but these games can be counted on the fingers. Poker, for example. And that, there is also luck, luck, because you probably do not know what cards are left in the deck, not for nothing it is recognised as a sport in its essence. But otherwise I agree with you, many people underestimate the factor of luck and do not realise that it is the main factor in games of chance