Forum Iris & Bulbes

Betting is basically the wagering of something of value or money in an uncertain event with a equally uncertain consequence, together with the main intention of winning either money or product. Gambling therefore needs three components in order for it to exist: risk, consideration, and a reward. The first one refers to the uncertainty of the outcome and the importance one gives for the; the second refers to the comparative likelihood of this occurrence of the event and the significance of this to one's actions; while the third element, the prize, also refers to the monetary reimbursement 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 is no such thing as pure win-loss ratio but rather a proportion of all wins to losses.