In Oblivion Remastered , the Luck attribute has several important effects:

• Boosts All Skills Over 50 Luck : Luck does not govern any specific skill but provides a bonus to all skills (except Athletics, Acrobatics, and Speechcraft) when your Luck is above 50. The bonus is calculated as 40% of the amount your Luck exceeds 50. For example, at 100 Luck, you get +20 to all affected skills (40% of 50)

• No Perk Benefits from Luck Boost : The Luck-based skill increase does not count towards unlocking skill perks, which depend on your base skill level. So, investing heavily in Luck alone won't grant you higher-tier perks

• Influences Chance-Based Events : Luck affects random chance outcomes in the game, such as:
  • Winning bets in the Arena
  • Success in lockpicking minigames
  • Chance to resist diseases
  • Chance to avoid triggering traps
  • Probability of weapon effects triggering, like Mehrunes Razor's Daedric Banishing

• Impact on Repair Hammer Break Chance : Luck influences the likelihood of a Repair Hammer breaking during item repairs, with higher Luck reducing but not eliminating the chance

• Neutral at 50 Luck : At exactly 50 Luck, there is no bonus or penalty. Below 50, you suffer penalties to your skills and chance-based outcomes

• Costly to Raise : Luck requires more Virtue Points to increase than other attributes, so it's generally recommended to balance investment in Luck with other stats

In summary, Luck in Oblivion Remastered provides a broad but subtle boost to your skills and improves your odds in many random chance scenarios, making it a valuable but somewhat expensive attribute to raise. However, it does not replace the need to invest in specific skills for perks and maximum effectiveness