the blue and red idea network

Betting is basically the wagering of something of value or cash in an uncertain event with a equally uncertain result, together with the major purpose 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 this; the second refers to the relative likelihood of this occurrence of the event and also the relevance of the one's activities; while the third component, the prize, also refers to the financial compensation one receives after winning. In gambling, what matters most is that you wins, while what matters least is if one wins or loses. In gambling, there is no such thing as pure win-loss ratio but rather a proportion of wins to all losses.