Forum Iris & Bulbes

Betting is basically the wagering of some thing of value or cash in an uncertain event with a equally uncertain result, together with the major intention of winning either money or merchandise. Gambling therefore needs three elements for it to exist: risk, consideration, and a reward. The first one refers to the doubt of the outcome and the importance one gives for this; the second refers to the relative likelihood of the occurrence of this event and the relevance of the one's actions; while the third 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 gaming, there is no such thing as pure win-loss ratio but instead a proportion of wins to all losses.