Forum Iris & Bulbes

Gambling is basically the wagering of some thing of value or money in an uncertain event with an equally uncertain consequence, with the major intention of winning either money or merchandise. Gambling therefore requires three elements for it to exist: risk, consideration, and a reward. The first one refers to the doubt of the outcome and the importance one gives to this; the second refers to the relative likelihood of the occurrence of this event and also the relevance of the one's activities; while the third component, the prize, describes 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 percentage of all wins to all losses.