I think kdice can conduct a great experiment regarding luck.

If our luck is purely mathematical then after many games,
1) the average luck of all the players should be around 50%
2) each player should be around 50% after many games
3) win vs loose on equal stacks has to be very very close to 50%

If not, then there exist lucky people !

It would be really interested to develop a model to check these things out. I got a physics degree (with theoretical physics) and Im into developing web applications now.

Also it would be interesting to create one factor called "stress" (how much you are in danger) and see if its related with luck.