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Gambling is fundamentally the wagering of some thing of value or cash in an uncertain event with an equally uncertain result, with the main intention of winning either cash or product. Gambling therefore requires three components 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 for the; the second describes the comparative likelihood of the occurrence of this event and the significance of the one's activities; while the next element, the prize, describes the financial compensation one receives after winning. In gambling, what matters most is that you wins, while what matters least is if one wins or loses. In gaming, there is no such thing as pure win-loss ratio but rather a percentage of all wins to all losses. |
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