Betting is fundamentally the wagering of something of value or cash in an uncertain event with an equally uncertain result, with the main purpose of winning either money or merchandise. Gambling therefore requires three components in order 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 describes the comparative likelihood of this occurrence of this event and also the relevance of this to one's actions; while the next element, the prize, refers to the monetary compensation one receives after winning. In gaming, what matters most is that one wins, while what matters least is whether one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but rather a proportion of all wins to all losses.

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