I've heard the term, and was wondering what exactly they are talking about. Obviously its about luck, but is it something you can calculate, or is it just a meaningless term?
Hmm.. I think it is more than a term... though it is a squishy term.
I just played a hand it went like this...
I had 88
He had AK
Flop was AK8
We got all in.
He turned an ace.
I rivered an eight.
Luck factor? Every detail can be calculated.
88 vs AKo preflop is ahead 55:45
On the flop I was ahead 83:17
On the turn I was behind 98:2
So... where is the "luck factor"?
In the end you have to make the right decision at the moment you are presented with it. The final results be damned.
Yes, there is luck... but everything has a value and can be calculated. It's just different situations offer different levels of clarity in the moment.