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Betting is basically the wagering of some thing of value or cash in an uncertain event with a equally uncertain consequence, together with the major intention of winning either cash or merchandise. Gambling therefore needs three components in order for it to exist: danger, consideration, and a reward. The first one describes the doubt of the outcome and the importance one gives for the; the second describes the relative likelihood of the occurrence of this event and also the significance of the one's actions; while the third element, the prize, also describes the financial 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 is no such thing as pure win-loss ratio but rather a percentage of wins to all losses.

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