Variance
Variance is the natural fluctuation in your poker results due to chance. Imagine you’re on a rollercoaster ride. Some days you’re up, some days you’re down. That’s variance in poker. It’s the reason why even the best players can have losing streaks and the worst players can hit a lucky win.
The origin of Variance in Poker
The term “variance” in poker borrows from statistics. It started being used more frequently as poker became more data-driven. It’s a way to explain the ups and downs in poker results that are purely due to luck, not skill. No one person coined it, but it became a staple as online poker and poker forums grew in popularity around the early 2000s.
Examples of use:
“Man, the variance in this game is killing me!”
Player 1: “I lost with pocket aces again. What’s going on?”
Player 2: “That’s just variance, buddy. Hang in there.”
You can use it in real life too…
- “My job search is all about variance. Some weeks I get tons of interviews, others, nothing.”
- “Dating feels like poker variance. Sometimes you hit the jackpot, other times, bust.”
- “My grades are like poker variance. One test I ace, the next I fail.”
When playing, be aware:
Do embrace the swings
Understand that variance is part of the game. It’s not about winning every hand but making the right decisions over time. Even if you lose with the best hand, rest assured you’re playing correctly in the long run.
Do not chase losses
Don’t go on tilt after a bad beat. Chasing losses can lead to poor decisions and even bigger losses. Stick to your strategy and bankroll management.
Variance means the same in other sports?
In other games like blackjack or sports betting, variance also refers to the natural ups and downs due to luck. For example, a basketball player may have a high shooting variance, meaning they can have streaks of both good and bad shooting games.
In finance, variance is used differently. It measures the volatility of stock prices, not the ups and downs due to luck.
Trivia
Did you know? The concept of variance is so crucial that some online poker sites offer “variance calculators” to help players understand their swings better and manage their bankrolls accordingly.
