Another thing to think about is how you make more money than you should when you are the favorite.
For example, you and villain have $100 which you both push preflop. You have AA and Villain has KK. You should win the $200 pot right? WRONG. You are really "entitled" to $160 because AA is only a 4:1 favorite over KK. (80% or 4:1 of $200 is 160). KK is supposed to win 1 out of every 5 times.
Hence, when you win your $200 you're really winning and extra $40 bucks. That $40 bucks will eventually go to pay off KK in your "bad beat" when you lose AA to KK.
If you want to get ultra nerdy, if you were an accountant, you'd take $40 of depreciation against that asset of $200 when you recognized it. Okay, I've gone too far now.
Tim