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Betting is fundamentally the wagering of something of value or money on an uncertain event with a equally uncertain consequence, together with the main purpose of winning either cash or merchandise. Gambling therefore needs three components for it to exist: risk, consideration, and a reward. The first one refers to the doubt of the outcome and 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, describes the financial reimbursement one receives after winning. In gaming, what matters most is that one wins, while what things least is whether one wins or loses. In gaming, there's absolutely no such thing as pure win-loss ratio but instead a proportion of all wins to losses. |
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