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Philosophy and Fundamentals of Sharī’ah for Islamic Finance
SHA0011

Maysir

Gambling (maysir) is betting or charging something that will be forfeited
if one fails to obtain the greater gain that one hopes for.

Speculation is not a gambling. Some jurists say that speculation is prohibited,
but contracts involving speculation are still valid. There are two types of
gambling :

1. Gambling in game/competition.
Competition in which competitors pay money then the winner
takes all the money, or a prize is bought for him with it. It
means all kinds of games of chance in which you win or lose
money like dice, card games, lottery, football pools, lotto,
betting and sweepstakes are regarded as gambling.

2. Gambling in lucky draw.
A person purchases a coupon at a certain price without receiving
anything for it, only to subscribe in the lucky draw. This is
forbidden since it is nothing but gambling.