Forum Iris & Bulbes

Betting is fundamentally the wagering of some thing of value or money in an uncertain event with an equally uncertain result, together with the main intention of winning either money or product. Gambling therefore needs three components 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 comparative likelihood of the occurrence of the event and the significance of the one's activities; while the third element, the prize, 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 percentage of wins to all losses.