Well, in sports betting, yes, it's luck and skill, but not in purely luck-based games like slots, roulette etc. It's a common misconception among gamblers that in those games skill also plays a role. Guys, no, nothing whatsoever depends on your skill there. You calculate anything you want, but your win chance in slots will not change because of that, it's always like 45% or so.
That’s the RTP, and yeah, it looks quite high. But
in reality, we still lose more money in sports betting than in slots. The simple reason is we don’t usually risk a lot when playing slots, but we do when it comes to sports betting because we think our skills can make the profit we’re hoping for.
I think it depends. I personally may lose $30 on slots sometimes, even betting with 10 cents per roll. But I will never lose that amount to sports betting because I bet with $1, and
can make 5-6 bets per day, but not more. When I bet with $1, it's not like I'm expecting to win a dollar or two. I bet with very low probability of winning, so, the multiplier on my bet is usually 100x or even higher. I never hope for a good profit because of my "skills" risking $100 at once. I just never do that.