Forum Iris & Bulbes

Betting is fundamentally the wagering of something of value or money in an uncertain event with an equally uncertain consequence, with the main intention of winning either cash or product. Gambling therefore needs three elements in order for it to exist: danger, consideration, and a reward. The first one refers to the doubt 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 also the relevance of this to one's actions; while the third component, the prize, describes the financial compensation one receives after winning. In gambling, what matters most is that one wins, while what things least is if one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but rather a proportion of wins to all losses.