The basic objective of
all Islamic directives is to cleanse the human soul from excesses. Economic
activities, it is a common observation, have tremendous effects on a
person’s character. Therefore, all such activities which produce negative or
evil traits in a person are prohibited by Islam, since they tarnish the
mirror of the soul. Let us take a look at some of the typical traits of a
i. He bases his economic
activity on chance rather than his own technical ability which of course
leads to cowardice and superstition.
ii. He loses the initiative to
work hard, which can create severe financial problems for him and his
iii. He becomes selfish and
mean since his life inevitably becomes caught in a vicious circle of gaining
more and more.
iv. He is generally distracted
from the higher ideals of life.
Such traits and other similar
ones are generally the outcome of gambling. It is not necessary that they
are produced in their ultimate form whenever a person indulges in gambling.
The temperament of Islam is to bolt all pathways which lead to some evil.
The line of prohibition is marked much before the evil starts itself so that
a person is discouraged much before.
Yes, betting on a horse in a
horse race is a form of gambling. Also, there is a world of difference
between betting and investment. Betting or gambling in a horse race cannot
be called an investment in any sense of the word since in this case the
money involved is not brought in the market as a means of providing service
to the society which is necessary. Besides however much you may be able to
predict the ‘skill of a horse’ the uncertainty factor is still tremendous.