|
Gambling is fundamentally the wagering of some thing of value or money in an uncertain event with an equally uncertain result, with the major purpose of winning either cash or product. Gambling therefore needs three components 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 relative likelihood of the occurrence of the event and also the significance of the one's activities; while the third element, the prize, also describes the financial compensation 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 instead a proportion of wins to all losses. |
|