Forum Iris & Bulbes

Betting is fundamentally the wagering of some thing of value or cash on an uncertain event with a equally uncertain consequence, together with the main 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 describes the uncertainty of the outcome and also the importance one gives to this; the second refers to the comparative likelihood of the occurrence of this event and also the significance of this to one's activities; while the next component, the prize, refers to the financial compensation one receives after winning. In gaming, what matters most is that you wins, while what things least is whether one wins or loses. In gambling, there is no such thing as pure win-loss ratio but instead a percentage of all wins to all losses.