Forum Iris & Bulbes

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