The wager: what is permissible of it and what is not
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Question:
He has another question, saying: What is the ruling on wagering in the Shari'ah? If two people wager on something, for example, one says: “This is such and such,” and the other says: “Such and such,” and if it is not so, is the amount that one of them takes lawful for him? I ask the Shaykh, may Allah preserve him, to answer.
Answer:
This wager is not permissible. This is gambling, which is not permissible. It is a contest with no basis. Among the wagers that are permissible in the Shari'ah are racing horses, camels, and archery. Yes.
He has another question, saying: What is the ruling on wagering in the Shari'ah? If two people wager on something, for example, one says: “This is such and such,” and the other says: “Such and such,” and if it is not so, is the amount that one of them takes lawful for him? I ask the Shaykh, may Allah preserve him, to answer.
Answer:
This wager is not permissible. This is gambling, which is not permissible. It is a contest with no basis. Among the wagers that are permissible in the Shari'ah are racing horses, camels, and archery. Yes.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.