Betting is fundamentally the wagering of something of value or money on an uncertain event with a equally uncertain result, together with the main intention of winning either cash or product. Gambling therefore requires three components for it to exist: risk, consideration, and a reward. The first one describes the doubt of the outcome and the importance one gives to the; the second refers to the comparative likelihood of the occurrence of the event and the relevance of the one's actions; while the third element, the prize, refers to 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 gambling, there's absolutely no such thing as pure win-loss ratio but instead a proportion of wins to all losses.

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