Forum Iris & Bulbes

Betting is fundamentally the wagering of some thing of value or cash in an uncertain event with a equally uncertain result, together with the major intention of winning either money or merchandise. Gambling therefore requires three components for it to exist: risk, consideration, and a reward. The first one refers to the uncertainty of the outcome and also the importance one gives for this; the second describes the relative likelihood of the occurrence of the event and also the significance of the one's actions; while the third component, the prize, describes the monetary 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 gambling, there is no such thing as pure win-loss ratio but instead a proportion of wins to losses.