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Betting is fundamentally the wagering of some thing of value or money in an uncertain event with a equally uncertain result, together with the main purpose of winning either cash or merchandise. Gambling therefore requires three components 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 to the; the second refers to the comparative likelihood of this occurrence of this event and also the relevance of the one's activities; while the next component, the prize, describes the financial reimbursement 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 is no such thing as pure win-loss ratio but rather a percentage of wins to losses. |
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