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Gambling is fundamentally the wagering of something of value or cash on an uncertain event with a equally uncertain result, with the main intention of winning either money or product. Gambling therefore requires three components for it to exist: risk, consideration, and a reward. The first one refers to the uncertainty of the outcome and also the importance one gives to this; the second refers to the comparative likelihood of this occurrence of this event and also the significance of the one's activities; while the next component, the prize, describes the financial compensation one receives after winning. In gambling, what matters most is that one wins, while what matters least is whether one wins or loses. In gaming, there is no such thing as pure win-loss ratio but rather a percentage of wins to all losses. |
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