I was always a "non" believer of the "luck evens itself out" theory - reasons? well the odds say you will win as many 50/50's as you loose, BUT the luck factor STILL exists, because the ones you win may not be as important as the ones you loose.
eg : you play 100 x 50/50's . 50 are early on in tournaments, 50 are late on in tournaments. Odds say you win 50%, but if the 50% you win are all in early stages of a tourney and the 50% you loose are all in late stages of a tourney - Although the odds have evened themselves out, the luck has not.
People seem to talk about luck as being "good" only. However any game that uses a randomly delivered method of distribution means every hand is luck.
It was good luck that I got KK pre flop and my opponent got AQ. It was bad luck that the flop came A72. The 50/50 rule is Bad vs Good and if that is taken to the evening out of hands then you should in the example above have 50/50 early on and 50/50 late on. Of course the way the good luck is played (ie maximise the win/know your opponent etc) against the way bad luck is played (ie don't chase/fish/continue in a pot that looks lost) helps a bit to swing luck (whether bad or good) in your favour.
But hey why listen to me I still have to work to fund my 'Hobby'
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