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Gambling is basically the wagering of some thing of value or money in an uncertain event with a equally uncertain consequence, with the major intention of winning either money or merchandise. Gambling therefore needs three elements in order for it to exist: danger, consideration, and a reward. The first one describes the uncertainty of the outcome and also the importance one gives to this; the second describes the comparative likelihood of the occurrence of the event and also the relevance of this to one's actions; 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 if one wins or loses. In gambling, there is no such thing as pure win-loss ratio but rather a percentage of all wins to all losses.