Forum Iris & Bulbes

Betting is basically the wagering of something of value or cash in an uncertain event with a equally uncertain result, together with the main purpose of winning either money or product. Gambling therefore needs three elements in order for it to exist: danger, consideration, and a reward. The first one describes the doubt of the outcome and the importance one gives for this; the second describes the comparative likelihood of the occurrence of this event and the relevance of this to one's activities; while the third component, the prize, also describes the monetary compensation 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 is no such thing as pure win-loss ratio but rather a proportion of all wins to all losses.