Forum Iris & Bulbes

Betting is basically the wagering of some thing of value or cash on an uncertain event with a equally uncertain result, together with the main intention of winning either money or merchandise. Gambling therefore requires three elements in order for it to exist: risk, consideration, and a reward. The first one describes the uncertainty of the outcome and also the importance one gives to the; the second describes the comparative likelihood of this occurrence of the event and the relevance of the one's activities; while the third element, the prize, also refers to the monetary reimbursement one receives after winning. In gambling, what matters most is that you wins, while what things least is if one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but rather a percentage of all wins to all losses.