Gambling is basically the wagering of some thing of value or cash in an uncertain event with an equally uncertain result, together with the main intention of winning either money or product. Gambling therefore needs three components in order for it to exist: risk, consideration, and a reward. The first one describes the doubt of the outcome and also the importance one gives to this; the second describes the relative likelihood of the occurrence of the event and the relevance of the one's activities; while the next element, the prize, refers to the monetary reimbursement one receives after winning. In gaming, what matters most is that you wins, while what things least is whether one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but rather a percentage of all wins to all losses.
