Forum Iris & Bulbes

Betting is fundamentally the wagering of something of value or cash in an uncertain event with an equally uncertain result, with the major intention of winning either cash or merchandise. Gambling therefore needs three components 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 for the; the second refers to the relative likelihood of this occurrence of the event and the significance of the one's actions; while the third element, the prize, also describes the monetary reimbursement one receives after winning. In gaming, what matters most is that one wins, while what matters least is if 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.