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Gambling is basically the wagering of some thing of value or money in an uncertain event with a equally uncertain result, together with the major intention of winning either money or merchandise. Gambling therefore needs three elements in order for it to exist: danger, consideration, and a reward. The first one describes the doubt of the outcome and also the importance one gives for this; the second refers to the relative likelihood of the occurrence of this event and the significance of this to one's activities; while the third component, the prize, describes the monetary reimbursement one receives after winning. In gaming, what matters most is that one wins, while what matters least is whether one wins or loses. In gaming, there is no such thing as pure win-loss ratio but rather a percentage of all wins to losses. |
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