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Betting is basically the wagering of some thing of value or money on an uncertain event with an equally uncertain consequence, together with the major intention of winning either cash or product. Gambling therefore needs three elements 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 to this; the second refers to the comparative likelihood of the occurrence of the event and the relevance of this to one's actions; while the next element, the prize, also refers to the financial reimbursement one receives after winning. In gambling, what matters most is that you wins, while what matters least is whether one wins or loses. In gaming, there is no such thing as pure win-loss ratio but instead a percentage of all wins to all losses.