Forum Iris & Bulbes

Betting is basically the wagering of something of value or money in an uncertain event with an equally uncertain consequence, with the major purpose of winning either cash or product. Gambling therefore needs three components for it to exist: danger, consideration, and a reward. The first one describes the doubt of the outcome and also the importance one gives to the; the second refers to the relative likelihood of this occurrence of the event and also the relevance of the one's activities; while the next component, the prize, refers to the monetary compensation one receives after winning. In gambling, what matters most is that you wins, while what matters least is if one wins or loses. In gambling, there is no such thing as pure win-loss ratio but rather a percentage of wins to losses.