Forum Iris & Bulbes

Betting is fundamentally the wagering of some thing of value or money in an uncertain event with an equally uncertain consequence, together with the major purpose of winning either cash or product. Gambling therefore needs three components for it to exist: danger, consideration, and a reward. The first one describes the uncertainty of the outcome and the importance one gives for this; the second refers to the comparative likelihood of this occurrence of this event and also the significance of this to one's activities; while the third component, the prize, also refers to the financial compensation one receives after winning. In gambling, what matters most is that one wins, while what matters least is if one wins or loses. In gambling, there is no such thing as pure win-loss ratio but instead a proportion of wins to losses.