Gambling is basically the wagering of some thing of value or cash on an uncertain event with an equally uncertain result, with the main 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 doubt of the outcome and also the importance one gives for the; the second refers to the relative likelihood of the occurrence of this event and also the significance of the one's activities; while the next element, the prize, describes the monetary 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 gambling, there is no such thing as pure win-loss ratio but instead a proportion of wins to losses.
