Forum Iris & Bulbes

Betting is basically the wagering of some thing of value or cash in an uncertain event with an equally uncertain consequence, together with the major purpose of winning either money or product. Gambling therefore needs three elements in order for it to exist: risk, consideration, and a reward. The first one refers to the uncertainty of the outcome and also the importance one gives to this; the second refers to the comparative likelihood of this occurrence of the event and also the significance of this to one's actions; while the third element, the prize, describes the monetary compensation one receives after winning. In gambling, what matters most is that you wins, while what matters least is whether one wins or loses. In gambling, there is no such thing as pure win-loss ratio but instead a percentage of wins to all losses.