Gambling is gambling. It shouldn't be treated as a method for printing an infinite amount of money, this is just wrong. There is no one, no way, to predict whether you might win or not. TBH, it solely depends on your luck (although sports gambling could be an exception). So, I don't think anyone can say whether it is profitable or not. For some, it might be (one lucky chap), while for others, it isn't. But that's another topic. Lastly, think of gambling as a way of entertaining yourselves, that's it, don't consider it as an investment. Keep the profit aside and enjoy the game...