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Germany, Austria-Hungary, and Ottoman Empire.
The people that made the weapons on both sides and those that were in a position to take advantage of war reparations that were made by Germany while it lasted.
The losers of World War 1 were the "Central Powers". They lost to the "Allied Powers".Losers:GermanyAustria/HungaryBulgariaOttoman Empire
usually because the losing nation does not want to spread its shame or lie in order to make it look like they won. Imagine a World War II game made by the Nazis, how well would that work answer: not very well at all.
In the history of warfare, which indeed is a long one, then the winning side would receive whatever rewards are available to be received. This reward could be land or precious metals such as gold or silver. Also, the the higher the rank in the winning social order, they received the best of the booty to be stolen or passed from the hands of the losers to the winners.