with regards to poker that is. i mean whats the definition of variance? the times when you should win a hand but dont? it got me thinking this week when ive had 3 all in situations with nearly exactly the same cards. mine been the dominating ace and the villian hitting his under card. now im not whinging here (honest lol) but if you say oh thats just variance you want that situation i agree, however..... theoretically i could lose that situation the next 3/4/5 times it happens. unlikely but possible. the cards have no memory, i know the maths is in my favour but that doesnt guarantee anything. JUst to add to that point once you are in a situation where you have been the victim of a bad beat or suckout a few times on the trott then you have to defy variance to balence the equation. Making it a bit of a paradox really. do you think i have a valid point? or should i just wait for the men in white coats to take me away ha ha!
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Spose all terms are 'made up' at some point though.
So yes, and no.
Why is one million spins the correct amount to balance variance, whereas one hundred spins is not? There is no definite number where this happens.
If you flip a coin, how many possible outcomes are there? Two, right? Wrong.
Heads - The coin lands heads side up.
Tails - The coin lands tails side up.
Side - The coin lands on its side (very unlikely, but possible depending on the friction of the impact surface).
Orbit - The coin goes into orbit (technically strength is infinite, so you can flip it so hard that it goes into orbit).
That's four, not two.
This has no relevance to the topic, I just wanted to say it.
In conclusion, variance is a made up term just like all other terms in the World. It means luck.