Forum Iris & Bulbes

Betting is fundamentally the wagering of something of value or cash in an uncertain event with a equally uncertain result, together with the main purpose of winning either cash or merchandise. Gambling therefore requires 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 this; the second refers to the relative likelihood of this occurrence of the event and the relevance of the one's actions; while the next component, the prize, refers to the monetary compensation one receives after winning. In gaming, what matters most is that one wins, while what things least is if one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but instead a percentage of all wins to losses.