Forum Iris & Bulbes

Betting is basically the wagering of some thing of value or money in an uncertain event with an equally uncertain result, with the major intention of winning either money or merchandise. Gambling therefore needs three elements for it to exist: danger, consideration, and a reward. The first one refers to the uncertainty of the outcome and the importance one gives to the; the second refers to the comparative likelihood of this occurrence of the event and also the relevance of the one's actions; while the third element, the prize, refers to the financial compensation one receives after winning. In gaming, what matters most is that you wins, while what matters 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 losses.