Explaining Variability in Game Margins

Some seasons are notable for the large number of blowout victories they force us to endure - a few recent seasons come immediately to mind - while others are more memorable because of their highly competitive nature. To what extent, I've often wondered, could we attribute a season full of sizable victory margins to the fact that strong teams were more often facing weak teams, making the magnitude of the defeats predictable if still lamentable, versus instead attributing them to on-the-day or random events that were genuinely unforeseeable pre-game?

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