Texas Hold'em is IID -- events are independent and identically distributed. Life is non-stationary, with autoregressive conditional variance. Heck, for some asp

Texas Hold'em is IID -- events are independent and identically distributed. Life is non-stationary, with autoregressive conditional variance. Heck, for some aspects of life, the mean and variance are undefined. It doesn't always smooth out in the long term, except for that in the long run we're all dead.