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LukeYpf616

Gambling is basically the wagering of something of value or cash on an uncertain event with a equally uncertain result, with the main purpose of winning either money or merchandise. Gambling therefore requires three elements in order for it to exist: risk, consideration, and a reward. The first one refers to the uncertainty of the outcome and the importance one gives for this; the second refers to the relative likelihood of the occurrence of this event and the significance of this to 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 if one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but rather a percentage of wins to all losses.