Forum Iris & Bulbes

Betting is basically the wagering of something of value or money on an uncertain event with an equally uncertain result, with the major purpose of winning either money or merchandise. Gambling therefore needs three components in order for it to exist: risk, consideration, and a reward. The first one describes the uncertainty of the outcome and also the importance one gives for the; the second refers to the relative likelihood of this occurrence of the event and also the relevance of the one's activities; while the next component, the prize, refers to the monetary compensation one receives after winning. In gaming, what matters most is that you wins, while what matters 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 losses.