Short Run
A short series of wagers or game events.
In the context of gambling and casinos, the term "short run" refers to a relatively brief period of time during which a player experiences a series of outcomes or results from their gambling activities. This can apply to various games, such as slots, table games, or sports betting.
In the short run, results can be highly variable and influenced by luck, leading to the possibility of significant wins or losses that may not accurately reflect a player's overall skill or the game's statistical probabilities. This contrasts with the "long run," where the outcomes tend to align more closely with the expected probabilities due to the law of large numbers.
For example, a player might have a winning streak in the short run, winning several bets in a row, but over a longer period, the house edge will typically ensure that the casino remains profitable. Understanding the concept of the short run is crucial for gamblers, as it helps manage expectations and encourages responsible gambling practices.
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