Forum Iris & Bulbes

Betting is fundamentally the wagering of something of value or cash in an uncertain event with a equally uncertain consequence, together with the major intention of winning either money or merchandise. Gambling therefore needs three elements in order 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 the occurrence of the event and also the relevance of this to one's activities; while the third element, the prize, also refers to the monetary reimbursement one receives after winning. In gambling, what matters most is that one wins, while what things least is if one wins or loses. In gaming, there's absolutely no such thing as pure win-loss ratio but rather a percentage of wins to losses.