Gambling | Why gambling is prohibited in Islamic finance?

Gambling

Gambling is the act of betting on something valuable in an event with uncertain outcomes in order to win something valuable. Thus, gambling requires three elements to be present: consideration (number of bets), risk (opportunity), and reward. Betting results are often instantaneous, such as a single roll of dice, a rotation of a roulette wheel, or a horse crossing the finish line, but long-term frames are also common, allowing bets to be placed on the outcome of future sports competitions.

Gambling is also a major international commercial activity, with a total of $ 335 billion in the legal gambling market in 2009. In other forms, gambling can be conducted with content that has value but is not real money. For example, players in a marble game may place bets on marble, and similar pieces of the game of Poggs or Magic: The Gathering collectible game may be played as a stack, resulting in a meta-game about a player's collection value.

Why gambling is prohibited in Islamic finance?

Gambling is absolutely forbidden/prohibited in Islam. It is for this reason that gambling is banned by Islamic law, "The agreement between the participants is based on unethical temptation which is given in the minds of the participants in the hope of complete fulfillment of the will that they will gain by mere chance, without any consideration for the possibility of loss".

Islam is the only way of life chosen by Allah. Islam is the universal and greatest religion. Only Islam can remove all the darkness of the troubled world and turn the world into a beautiful garden of peace. Islam has forbidden all unnecessary things. One such thing is gambling. Whose darkness is gradually deepening? Muslim society and civilization are being destroyed. Unethical gambling halls like new casinos are being created.

Gambling is completely forbidden in Islam. Because through gambling, people become intoxicated with greed and reckless greed and compete. As a result, when the uncertain outcome of gambling is contrary to one's own destiny, the gambler is doomed to destruction by not accepting the ultimate failure.

The Qur’an unequivocally says, ‘O you who believe! Surely wine, gambling, idolatry, fortune-tellers, and arrows are the work of these unholy devils. So stay away from these. Maybe you will succeed. Satan seeks to stir up enmity and hatred among you through alcohol and gambling and to hinder you from the remembrance and prayers of Allah. So will you not refrain from all this? '[Surah Maeda, verses 90-91].

Allah further says, ‘O Prophet! They ask you about alcohol and gambling. You say, there is a great sin inherent in both. Although it has some benefits for people. But their sins are far greater than their benefits. '[Surah Bakara, verse 219].

The clear declaration of the Prophet (peace be upon him), ‘Surely Allah has forbidden alcohol, gambling, and musical instruments.’ Not only that, the Prophet (peace be upon him) declared it impossible for four classes of people to enter Paradise. He said, "Disobedient children of parents, gamblers, peddlers, and alcoholics will not be able to enter Paradise." [Mishkat]

The Prophet (peace and blessings of Allah be upon him) cursed those who created various casino-like places to attract people to the omnipresent disorder like gambling. He conquered Mecca and refused to enter the Kaaba. Because there were idols in the Kaaba. He ordered the idols to be removed. At one stage idols of Ibrahim and Ishmael (AS) were brought and they had gambling arrows in their hands.

Then the Prophet (peace be upon him) said, ‘May those who made these idols be destroyed. Because they know that Ibrahim and Ismail did not try their luck with the arrow. 'Then he entered the Kaaba and said takbeer around. Then he prayed. [Bukhari]

Behind this prohibition, any wise person will see that there are many reasons for it, that are the following:

i. Gambling relies on accident, luck, and the fulfillment of one's desires to earn one's living, which, instead of hard work, causes one to sweat on one's forehead and show respect for the way God has directed.

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ii. It destroys the family and damages property in haraam ways. It makes rich families poor and humiliates proud souls.

iii. This causes animosity and hatred among the players as they are consuming each other's wealth illegally and acquiring wealth illegally.

iv. It diverts people from the remembrance and prayer of Allah and pushes the players towards the worst behaviors and habits.

v. It is a sinful hobby that wastes time and effort and makes people accustomed to laziness and sloth. It prevents people from working and producing.

vi. It pushes people to commit crimes because the person who is meaningless wants to steal money by any means, even stealing or forcing it, or by taking bribes and cheating.

vii. It causes stress, illness, and nervous breakdown. It breeds hatred and, in most cases, leads to crime, suicide, insanity, and chronic illness.

viii. This leads gamblers to bad behavior such as drinking alcohol and taking drugs. The environment in which gambling takes place is dimly lit and filled with cigarette smoke; People speak in hushed tones and whispers and hide inside and out in such a way that it does them no good.