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Gambling is fundamentally the wagering of something of value or cash on an uncertain event with an equally uncertain result, with the major purpose of winning either money or product. Gambling therefore requires three components in order for it to exist: danger, consideration, and a reward. The first one refers to the uncertainty of the outcome and also the importance one gives to this; the second describes the comparative likelihood of the occurrence of this event and the relevance of this to one's actions; while the third element, the prize, refers to the monetary compensation one receives after winning. In gambling, what matters most is that you wins, while what things least is whether one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but rather a percentage of wins to losses. |
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