Gambler’s Ruin is a term often used in statistics to describe a phenomenon where the occurrence of an event (in this case, a gambling loss) can drastically reduce the likelihood of future success.
The idea is that if you’re a habitual gambler, your odds of winning continue to decline as you lose more money. This phenomenon is sometimes referred to as regression to the mean, and it’s something that you’ll want to be aware of when analyzing data sets with gambling losses included.
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