I understand what you mean, but then how do you gamble? At Luck 1, you are just forking over all your caps. At 10 luck, you are just getting free caps. Where is the authentic gambling spirit in that?
2 things:
1) The "authentic gambling spirit" doesn't account for the uber-lucky or unlucky. If you have a 1-2 or 9-10 luck, you're the weird one. You are outside the "normal" range and shouldn't expect an "authentic" experience at luck-based endeavors.
2) Have you ever actually been to Vegas? Do you understand what an authentic gambling experience is in Vegas. Basically: you lose. All the games in Vegas are weighted towards the house. Every. Single. One. If you actually make money in a Vegas casino, you are very lucky. A person with average luck (5, in game) will likely lose all of their money, if they keep playing.
So when you get your butt kicked, you've just had an authentic gambling experience.
P.S. If I was extremely lucky in real life (equivalent to 10 luck in game) you'd best believe my skinny butt would be in Vegas, raking in the free caps... err, dollars.