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LukeYpf616

Betting is basically the wagering of some thing of value or cash on an uncertain event with a equally uncertain result, together with the main purpose of winning either money or merchandise. Gambling therefore needs three elements 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 the; the second describes the comparative likelihood of this occurrence of this event and also the relevance of this to one's actions; while the third element, the prize, refers to the financial compensation one receives after winning. In gambling, what matters most is that one wins, while what things least is whether one wins or loses. In gambling, there is no such thing as pure win-loss ratio but instead a percentage of wins to losses.