Forum Iris & Bulbes

Betting is basically the wagering of some thing of value or money on an uncertain event with an equally uncertain result, with the main intention of winning either cash or product. Gambling therefore requires three elements in order for it to exist: danger, consideration, and a reward. The first one refers to the uncertainty of the outcome and also the importance one gives to the; the second describes the relative likelihood of the occurrence of this event and also the relevance of the one's actions; while the next component, the prize, also refers to the monetary compensation one receives after winning. In gambling, what matters most is that one wins, while what things least is whether one wins or loses. In gambling, there is no such thing as pure win-loss ratio but instead a proportion of all wins to losses.