Hmmm... the accumulator analogy makes sense, however, I'm still not sure it fits with the quote. You might as well excuse any loss as bad luck.

The Cormac McCarthy quote to me means - Pacquiao being knocked unconscious, at that exact moment in time, could have saved him from far worse "luck" - It changed his plans/life from that moment onwards - from showering, press conference, media, after show party, hospital, car rides, plane journey's etc.