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Gambling is fundamentally the wagering of something of value or cash in an uncertain event with a equally uncertain result, together with the major intention of winning either money or product. Gambling therefore needs three elements for it to exist: risk, consideration, and a reward. The first one describes the doubt of the outcome and the importance one gives for the; the second describes the relative likelihood of this occurrence of the event and the relevance of the one's activities; while the next element, the prize, describes the financial 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 gaming, there is no such thing as pure win-loss ratio but rather a proportion of all wins to losses. |
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