Study of the Suspicion of Gambling in Zero-sum Transactions

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SADEGHI SHAHDANI MAHDI; PAKZAT SEYED MAHDI

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Paper Information

Journal: JOURNAL OF ISLAMIC ECONOMIC STUDIES Year:2019 | Volume:11 | Issue:1 (21) Page(s): 69-88

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Title

Study of the Suspicion of Gambling in Zero-sum Transactions

Author(s)

SADEGHI SHAHDANI MAHDI | PAKZAT SEYED MAHDI | Issue Writer Certificate

Keywords

GamblingQ1

the bettingQ1

zero-sum transactionsQ1

financial derivativesQ1

Abstract

zero-sum transactions are transactions in which the expense of one of the traders is against other’ s interest; and just as much as one body harms someone else will benefit. The main application of zero-sum transactions is the risk management. Some believe that the prohibition of Gambling is because of being a zero-sum transaction, so every another zero-sum transaction is rejected in Islam. In exploring the concept of Gambling will reach the conclusion that literally and in terms of jurists and the Hadith, Gambling rests on three pillars: 1-The game 2-The overcoming 3-the betting. Of these three pillars, only "the betting" is available in the zero-sum transactions. the betting means pledging a certain fund by both sides to transfer at the end from the loser to winner. "The overcoming" means that each of the parties have the intention and effort to overcome another which is called "win-lose" in Slang. In the zero-sum transactions no one intends to win and overcome the other side, but all are simply looking to make a profit. "The game" means some work that has no reasonability while a zero-sum transaction has at least an important benefit and rational purpose, that is the risk hedging. As a result, a zero-sum transaction is not Gambling.

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APA: Copy

SADEGHI SHAHDANI, MAHDI, & PAKZAT, SEYED MAHDI. (2019). Study of the Suspicion of Gambling in Zero-sum Transactions. JOURNAL OF ISLAMIC ECONOMIC STUDIES, 11(1 (21) ), 69-88. SID. https://sid.ir/paper/220757/en

Vancouver: Copy

SADEGHI SHAHDANI MAHDI, PAKZAT SEYED MAHDI. Study of the Suspicion of Gambling in Zero-sum Transactions. JOURNAL OF ISLAMIC ECONOMIC STUDIES[Internet]. 2019;11(1 (21) ):69-88. Available from: https://sid.ir/paper/220757/en

IEEE: Copy

MAHDI SADEGHI SHAHDANI, and SEYED MAHDI PAKZAT, “Study of the Suspicion of Gambling in Zero-sum Transactions,” JOURNAL OF ISLAMIC ECONOMIC STUDIES, vol. 11, no. 1 (21) , pp. 69–88, 2019, [Online]. Available: https://sid.ir/paper/220757/en

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