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Betting is fundamentally the wagering of something of value or money on an uncertain event with a equally uncertain consequence, with the major purpose of winning either money or product. Gambling therefore needs three elements for it to exist: danger, consideration, and a reward. The first one refers to the uncertainty of the outcome and the importance one gives for this; the second refers to the relative likelihood of the occurrence of the event and the significance of the one's activities; while the third component, the prize, also refers to the financial compensation one receives after winning. In gaming, what matters most is that you wins, while what matters least is if one wins or loses. In gaming, there is no such thing as pure win-loss ratio but rather a percentage of wins to losses. |
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