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Gambling is basically the wagering of some thing of value or cash on an uncertain event with a equally uncertain consequence, with the main purpose of winning either money or merchandise. Gambling therefore requires three elements for it to exist: danger, consideration, and a reward. The first one refers to the uncertainty of the outcome and the importance one gives for the; the second describes the comparative likelihood of this occurrence of the event and also the significance of the one's actions; while the third element, the prize, describes the monetary reimbursement one receives after winning. In gambling, what matters most is that you wins, while what things least is whether one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but instead a percentage of wins to all losses. |
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