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Betting is fundamentally the wagering of something of value or money on an uncertain event with an equally uncertain consequence, together with the main purpose of winning either money or product. Gambling therefore needs three components in order for it to exist: risk, consideration, and a reward. The first one describes the doubt of the outcome and also the importance one gives for the; the second refers to the comparative likelihood of the occurrence of this event and the relevance of this to one's activities; while the third component, the prize, describes the monetary reimbursement 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 proportion of wins to losses.
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