PV, I think most of us on this forum, not all, but most, understand the terms +EV and "variance" and the relationship between the two. But for anyone who doesn't, you have done a really good job of explaining it.....if they really want to understand

ANY game that a significant part of the +EV is reliant on some large jackpot hit, or winning one of the upper end amounts in a poker tournament, the variance is going to be great. And that is why I have always steered clear of those things and focused on variance that I can "control" (not a good word) more.

Even something like Video Poker. You can be playing a +EV game off the top, 100+ return, but if you are 10 cycles in at 400,000 rounds and have only hit 2 Royal's when the expectation is 10, you are going to be in the red despite all those rounds being played at +EV.

Even blackjack, which I rely on, the top prize or reward is much smaller....whatever your max bet is, but if you go through a run, that you lose the majority of your max bets for weeks or even several months, you are almost surely going to be on a negative run, despite playing +EV. (I have done so many times).

But the difference is I can control these shorter runs, even several hundred thousand trials. But you get into a situation where the +EV is so reliant on hitting some massive jackpot type win or finishing in the top 5 in some tournament, you can't necessarily control that for the longer period of time it would take to overcome such negative variance.