Forum Iris & Bulbes

Betting is basically the wagering of some thing of value or money on an uncertain event with a equally uncertain consequence, together with the major purpose of winning either cash or merchandise. Gambling therefore requires three components for it to exist: risk, consideration, and a reward. The first one refers to the doubt of the outcome and also the importance one gives to this; the second refers to the relative likelihood of this occurrence of this event and also the relevance of the one's actions; while the next component, the prize, refers to the monetary reimbursement 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's absolutely no such thing as pure win-loss ratio but instead a proportion of all wins to all losses.