Arabic (قمار) for any game of chance, where the final result depends a random process or an uncertain event. Examples include all sorts of games offered in casinos. Technically speaking, qimar is a process in which ownership is taken by way of a wager. Some define it as every game that ends up with some party winning and another losing (therefore it is a zero-sum game). The winner takes something from the loser as dictated by the rules of game. It is actually a wager on sheer risk. Qimar is forbidden by shari’a because of the excessive degree of gharar (gharar fahish or excessive uncertainty) it is associated with.
Islamic Finance
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