Forum Iris & Bulbes

Betting is basically the wagering of something of value or money in an uncertain event with an equally uncertain consequence, together with the major purpose of winning either money or product. Gambling therefore requires three components in order 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 this event and the relevance of this to one's actions; while the third element, the prize, describes 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's absolutely no such thing as pure win-loss ratio but instead a proportion of wins to all losses.