Forum Iris & Bulbes

Betting is basically the wagering of something of value or money in an uncertain event with an equally uncertain consequence, together with the major purpose of winning either money or product. 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 for this; the second refers to the relative likelihood of the occurrence of this event and the significance of the one's activities; 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 things 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 all wins to losses.