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WCFTim580

Betting is fundamentally the wagering of something of value or cash on an uncertain event with an equally uncertain consequence, with the major intention of winning either cash or product. Gambling therefore needs three components for it to exist: danger, consideration, and a reward. The first one describes the doubt of the outcome and also the importance one gives to this; the second describes the relative likelihood of this occurrence of this event and also the significance of the one's activities; while the third element, the prize, describes the monetary reimbursement one receives after winning. In gaming, what matters most is that you wins, while what matters least is if one wins or loses. In gambling, there is no such thing as pure win-loss ratio but instead a percentage of all wins to all losses.