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Gambling is basically the wagering of some thing of value or money in an uncertain event with an equally uncertain result, together with the main purpose of winning either cash or product. Gambling therefore needs three components for it to exist: danger, consideration, and a reward. The first one describes the uncertainty of the outcome and also the importance one gives to the; the second describes the comparative likelihood of the occurrence of the event and also the relevance of the one's actions; while the next component, the prize, also describes the monetary compensation one receives after winning. In gambling, what matters most is that one wins, while what matters least is whether one wins or loses. In gaming, there's absolutely no such thing as pure win-loss ratio but instead a percentage of wins to losses. |
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