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Gambling is fundamentally the wagering of some thing of value or money in an uncertain event with a equally uncertain result, with the major purpose of winning either money or product. Gambling therefore requires three elements in order for it to exist: risk, consideration, and a reward. The first one describes the doubt of the outcome and the importance one gives to the; the second refers to the comparative likelihood of this occurrence of this event and also the relevance of the one's actions; while the next element, the prize, also describes the monetary reimbursement one receives after winning. In gaming, what matters most is that one wins, while what things least is if one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but instead a proportion of wins to losses. |
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