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Practice Matters

Probability

Probability Probability is the estimate that something will become true or occur. It doesn't however ensure that an event or outcome will happen though. Since each event is not related to the prior event, probability theory states that there is X% occurrence for Y to happen, but it cannot say that Y will ever happen if there's even a slight chance that it won't. This sometimes confuses gamblers when probability is applied to expected value (more on this later).

If you're running bad in poker

If you're running bad in poker you are not guaranteed that you will not run bad for very long extended time periods. This is what tends to lead many poker players, and gamblers in general, to ruin or go bust. They begin to believe they are "due" to win because their luck has been so bad, but this is not the case. If the probability of Y event happening is consistently in your favor, then the odds of Y event will increase, but it also could never happen.

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