Forum Iris & Bulbes

Gambling is basically the wagering of some thing of value or money in an uncertain event with an equally uncertain consequence, with the major intention of winning either cash 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 this; the second refers to the relative likelihood of this occurrence of the event and the significance of the one's activities; while the third element, the prize, describes the financial compensation one receives after winning. In gaming, what matters most is that you wins, while what things least is if one wins or loses. In gambling, there is no such thing as pure win-loss ratio but instead a proportion of wins to all losses.