Betting is fundamentally the wagering of some thing of value or cash on an uncertain event with an equally uncertain consequence, together with the major intention of winning either cash or product. Gambling therefore requires three elements in order for it to exist: risk, consideration, and a reward. The first one describes the uncertainty of the outcome and the importance one gives for the; the second describes the comparative likelihood of this occurrence of this event and also the relevance of the one's actions; while the third component, the prize, also refers to the monetary compensation one receives after winning. In gambling, what matters most is that you wins, while what matters 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.
