Forum Iris & Bulbes

Betting is fundamentally the wagering of something of value or money on an uncertain event with a equally uncertain consequence, together with the main intention of winning either money or product. Gambling therefore requires three elements in order for it to exist: danger, consideration, and a reward. The first one describes the uncertainty of the outcome and also the importance one gives for the; the second refers to the relative likelihood of the occurrence of the event and also the relevance of this to one's actions; while the third element, the prize, also refers to the financial reimbursement one receives after winning. In gambling, what matters most is that one wins, while what matters least is whether one wins or loses. In gaming, there is no such thing as pure win-loss ratio but instead a percentage of wins to losses.