Betting is basically the wagering of something of value or cash on an uncertain event with an equally uncertain consequence, with the major purpose of winning either cash or merchandise. Gambling therefore requires three components for it to exist: risk, consideration, and a reward. The first one refers to the doubt of the outcome and also the importance one gives to this; the second refers to the relative likelihood of the occurrence of the event and the significance of the one's activities; while the next element, the prize, describes the financial reimbursement one receives after winning. In gaming, what matters most is that one wins, while what matters least is if one wins or loses. In gaming, there's absolutely no such thing as pure win-loss ratio but rather a proportion of wins to losses.
