Betting is fundamentally the wagering of some thing of value or money on an uncertain event with an equally uncertain consequence, together 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 describes the uncertainty of the outcome and the importance one gives to the; the second describes the relative likelihood of the occurrence of this event and also the relevance of the one's actions; while the next element, the prize, also refers to the financial reimbursement one receives after winning. In gambling, what matters most is that one wins, while what things least is whether one wins or loses. In gaming, there is no such thing as pure win-loss ratio but instead a proportion of all wins to all losses.
