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Betting is fundamentally the wagering of some thing of value or money in an uncertain event with a equally uncertain result, together with the main purpose of winning either cash or product. 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 relative likelihood of this occurrence of the event and the significance of this to one's activities; while the third element, the prize, refers to the financial 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 wins to losses.