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Gambling is fundamentally the wagering of some thing of value or money on an uncertain event with a equally uncertain consequence, with the main purpose of winning either cash or product. Gambling therefore requires three elements in order for it to exist: risk, consideration, and a reward. The first one refers to the doubt of the outcome and also the importance one gives for this; the second describes the relative likelihood of the occurrence of the event and also the relevance of this to one's actions; while the third element, the prize, describes the monetary 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 gaming, there's absolutely no such thing as pure win-loss ratio but instead a proportion of wins to all losses. |
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