As long as there is still a chance that you are capable of losing that bet we can still call it gambling. The event is not 100% certified that you will win it, so even at 99.9%  chances that you are doing to win it is still gambling. I don't know about other sports, but in football, there many times that football matches that your analysis might have shown you that a certain club will win, but at the end of the day the match won't end as expected. The team that nobody thought could win ends up winning.