Betting is basically the wagering of something of value or money on an uncertain event with a equally uncertain result, with the main intention 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 also the importance one gives to this; the second describes the comparative likelihood of this occurrence of this event and the relevance of the one's activities; while the third component, the prize, refers to the monetary compensation one receives after winning. In gambling, what matters most is that one wins, while what matters least is if one wins or loses. In gaming, there is no such thing as pure win-loss ratio but instead a percentage of all wins to losses.
