Forum Iris & Bulbes

Betting is fundamentally the wagering of some thing of value or cash on an uncertain event with a equally uncertain result, together with the major purpose of winning either cash or merchandise. Gambling therefore needs three elements for it to exist: danger, consideration, and a reward. The first one describes the uncertainty of the outcome and also the importance one gives to the; the second refers to the relative likelihood of the occurrence of the event and the relevance of this to one's activities; while the third element, the prize, also 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's absolutely no such thing as pure win-loss ratio but rather a proportion of all wins to losses.