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ORLTamie66

Betting is basically the wagering of some thing of value or money in an uncertain event with a equally uncertain result, together with the main purpose of winning either cash or merchandise. Gambling therefore requires 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 describes the relative likelihood of the occurrence of this event and the significance of this to one's actions; while the third component, the prize, also describes the financial reimbursement one receives after winning. In gambling, 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 percentage of all wins to all losses.