Forum Iris & Bulbes

Betting is fundamentally the wagering of something of value or cash on an uncertain event with a equally uncertain consequence, together with the major intention of winning either cash or merchandise. Gambling therefore requires three elements in order for it to exist: danger, consideration, and a reward. The first one describes the uncertainty of the outcome and the importance one gives to this; the second refers to the comparative likelihood of the occurrence of the event and also the significance of this to one's actions; while the next component, the prize, describes the financial reimbursement one receives after winning. In gambling, what matters most is that one wins, while what matters least is if one wins or loses. In gaming, there's absolutely no such thing as pure win-loss ratio but instead a percentage of all wins to losses.