Betting is basically the wagering of something of value or cash on an uncertain event with an equally uncertain result, together with the major intention of winning either money or product. Gambling therefore needs three components 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 the occurrence of the event and the relevance of this to one's activities; while the next component, the prize, also describes the monetary compensation one receives after winning. In gambling, what matters most is that you wins, while what things 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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