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I believe people who gamble on sports may understand this better since sometimes in sports betting some gambler's prefer to go for the smaller odds that usually have a higher winning chance and sometimes they can still end up a losing game however some prefer to go for the big game with big odds and smaller winning chances.
What's usually your pick as a gambler since sometimes some persons are luckier than others?
When I used to gamble back in college, I often pick gambling on online games which provides skins as the currency of their platform. A specific example here would be Dota 2 and CSGO since these games have this item called "keys" where you could open crates for a chance of getting a super rare skin.
Given that keys in those games have a price of $1.99 back in 2014 onwards, it was used as the main currency in betting between games and other tournaments. Additionally, as someone who also played those games with so much time invested, I could call myself as an "expert" when it comes to betting against teams since I have an idea which team would most LIKELY win.
The question is- is it called luck, strategy, or skill? I would definitely answer it as a little mix of both given that there were countless of times where the underdog defeated Goliath in an upset matchup.