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