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Gambling is basically the wagering of something of value or money in an uncertain event with an equally uncertain result, together with the major purpose of winning either money or product. Gambling therefore needs three components in order for it to exist: danger, consideration, and a reward. The first one describes the uncertainty of the outcome and the importance one gives to this; the second describes the relative likelihood of this occurrence of this event and the relevance of the one's actions; while the next component, the prize, also describes the financial reimbursement one receives after winning. In gambling, what matters most is that one wins, while what matters least is whether one wins or loses. In gambling, there is no such thing as pure win-loss ratio but instead a percentage of wins to all losses. |
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