DOI link for How.Should.IT.Manage.Risk?
Risk is best defined by Webster’s Dictionary as “exposure to the chance of injury or loss; jeopardy.” Although there can be the potential for an upside or an opportunity, risk is most commonly held in business as the potential for unintended, negative events or consequences. The business of wager-driven gaming (gambling) is driven by the optimism of the player and the odds of the game being played. The potential for risk to the player is the amount being wagered. The potential for risk to the casino is represented by the odds such as 2:1 for blackjack or 35:1 for roulette. If only all business decisions came with stated odds.