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ORLTamie66

Gambling is basically the wagering of some thing of value or money in an uncertain event with an equally uncertain result, together with the main intention of winning either cash or product. Gambling therefore requires three elements for it to exist: danger, consideration, and a reward. The first one refers to the doubt of the outcome and also the importance one gives to this; the second refers to the comparative likelihood of the occurrence of this event and the relevance of this to one's actions; while the third component, the prize, describes 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 gaming, there is no such thing as pure win-loss ratio but rather a proportion of wins to losses.