BO1, BO3, BO5 Meaning

What does BO1, BO3, BO5 mean? Here is BO1, BO3, BO5's definition

Best of 1, Best of 3, Best of 5. Maximum amount of games in the series. You need to win more than half to win. For example in a BO3, the first with 2 victories win.

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