Gambling is basically the wagering of something of value or money on an uncertain event with a equally uncertain result, with the major intention of winning either cash or merchandise. Gambling therefore requires three components for it to exist: danger, consideration, and a reward. The first one refers to the uncertainty 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 this to one's activities; while the next element, the prize, refers to the monetary 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 gaming, there is no such thing as pure win-loss ratio but rather a percentage of all wins to losses.
