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Gambling is basically the wagering of something of value or cash in an uncertain event with a equally uncertain result, together with the major intention of winning either money or product. Gambling therefore requires three elements 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 the; the second refers to the relative likelihood of this occurrence of the event and the relevance of the one's activities; while the next component, the prize, refers to the financial reimbursement one receives after winning. In gambling, 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 rather a proportion of all wins to all losses. |
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