Forum Iris & Bulbes

Betting is fundamentally the wagering of something of value or money on an uncertain event with an equally uncertain result, together with the major purpose of winning either money or product. Gambling therefore requires three elements in order for it to exist: risk, consideration, and a reward. The first one describes the uncertainty of the outcome and the importance one gives to the; the second describes the relative likelihood of this occurrence of the event and the relevance of this to one's actions; while the next element, the prize, refers to the financial compensation one receives after winning. In gambling, what matters most is that you wins, while what things least is if one wins or loses. In gaming, there is no such thing as pure win-loss ratio but rather a proportion of wins to all losses.