My observation as a gambler (when I used to gamble):
Don't take gambling as gambling itself but take it as trading. Create setups, strategies, bring in your skills in terms of both sports betting and live casinos, and with proper risk management and keeping journal of both - your winnings and losses will make you a much better gambler than just going all in on anything like a blind and then losing it all. It takes a lot of time to experience such a thing that I've experienced during my gambling period. Don't expect to make a living through gambling, but at least don't let the casinos enjoy their life on your money.
In simple words, GAMBLE WITH STYLE.
Going all in is real stupidity and you will 99% of the time lose money if you put everything in one game, in one bet.
However, apart from money management which is equally important in both trading and gambling, i do not see anything complex in gambling as compared to trading. You cannot define your charts, mark your positions in gambling as you can do in the trading.
The past data in the trading matters and therefore we analyze that data. Gambling is pure luck and no matter how much data we have about the gambling games, each game is a new game and there is no data to analyze which can be helpful in gambling.
I think you're oversimplifying the distinctions between the two in your thinking. The only thing I can think of that trading and gambling have in common is the element of risk.
Unlike a game of chance, trading involves a lot of moving parts and strategy. Its a tricky procedure where making educated decisions can significantly improve outcomes. Knowledge of economics, even rudimentary economics, can equip a trader with the tools necessary to navigate the market. There is a wealth of information to be gleaned by studying the markets, including how supply and demand interact and how regional and international events impact prices.
While skill and knowledge do play a role, "luck" in gambling has little to do with either. Cards and a roulette wheel have no recollection of past events. The odds are altered in a fundamental way with each spin or draw.
Even though both trading and gambling have their thrills, drawing any direct parallels between the two is oversimplifying things. Do you agree that business savvy ought to be accorded more respect?