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Gambling is fundamentally the wagering of some thing of value or money on an uncertain event with an equally uncertain result, with the major purpose of winning either cash or merchandise. Gambling therefore needs three components 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 for this; the second describes the relative likelihood of this occurrence of this event and the relevance of the one's actions; while the third component, the prize, also refers to the monetary 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 gambling, there's absolutely no such thing as pure win-loss ratio but rather a percentage of all wins to all losses. |
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