WordReference Random House Unabridged Dictionary of American English © 2017
law of averages, 
  1. Statisticsa statistical principle formulated by Jakob Bernoulli to show a more or less predictable ratio between the number of random trials of an event and its occurrences.
  2. Slang Terms[Informal.]the principle that, in the long run, probability as naively conceived will operate and influence any one occurrence.

Collins Concise English Dictionary © HarperCollins Publishers::

law of averages n
  1. (popularly) the expectation that a possible event is bound to occur regularly with a frequency approximating to its probability, as in the (actually false) example

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