Forum Iris & Bulbes

Betting is basically the wagering of something of value or cash in an uncertain event with a equally uncertain consequence, together with the major purpose of winning either cash or merchandise. Gambling therefore requires three elements 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 the; the second describes the comparative likelihood of the occurrence of the event and the significance of the one's activities; 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 if one wins or loses. In gaming, there's absolutely no such thing as pure win-loss ratio but rather a percentage of all wins to losses.