Forum Iris & Bulbes

Betting is basically the wagering of some thing of value or money in an uncertain event with an equally uncertain result, with the major intention of winning either cash or merchandise. Gambling therefore requires three elements in order for it to exist: risk, consideration, and a reward. The first one refers to the doubt of the outcome and the importance one gives to the; the second refers to the relative likelihood of the occurrence of this event and also the significance of the one's actions; while the third component, the prize, also describes the monetary compensation one receives after winning. In gaming, what matters most is that one wins, while what things least is whether one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but instead a proportion of wins to all losses.