No-one knows if Lady Luck is fey or an extremely powerful sorceress detached from the material world. Using her proper name of "Fortune," she has created a demesne for she and those like her: the personifications of their given names, as part of "The High Arcana."
She watches from a balcony opening from Tower, as she watches all that happens in The World.
The theme of The High Arcana for a roleplay group I'm in.