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Gambling is basically the wagering of some thing of value or cash on an uncertain event with a equally uncertain result, with the major intention of winning either money 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 the importance one gives to the; the second refers to the comparative likelihood of this occurrence of the event and also the significance of this to one's actions; while the third component, the prize, also refers to the monetary compensation one receives after winning. In gaming, what matters most is that you wins, while what matters least is if one wins or loses. In gambling, there's absolutely no such thing as pure win-loss ratio but instead a proportion of wins to losses. |
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