I wanted to find out is trading in Football Index Halal?

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Dear Brother

Football Index is the first football player stock market that allows you to buy, sell and trade football player with your own money. Essentially, you're betting on the value of your players going up over time. It’s like a mix between fantasy football and traditional sports betting.[i] As such, if the player’s price hikes up due to media attention or him being in good form, the person investing will receive dividends in return. The better he plays and the more likely he is to do well in future, the higher his price rises.

Football Index is purely a gambling platform. Publicizing the whole system as being replicas of stock market and that the investor is indeed buying shares in football players is not enough to deem it permissible. There is a major difference between Football Index and stock market. In stock market, shares are bought in companies that are asset-based; be it tangible assets or intangible. Whereas, in Football Index shares are bought in football players, instead of companies. Football Index does not have any connection with the player whatsoever. This whole system of Football Index merely mocks the concept of trading in shares.

Traders use Football Index to bet on the future success of a real-life footballer by purchasing shares in them.[ii] The person investing therein is in reality betting on a player of his choice, the profit of which is given to him in the form of dividends but is contingent upon the outcome of a future uncertain event; performance of the player. This is further confirmed by its official site wherein this whole system is described as a betting rebellion.[iii]  Such a transaction is gambling, hence unlawful to trade in.[iv][v][vi]

And Allah Ta’āla Knows Best

Naved Akhtar Ibn Shabbir.

Student - Darul Iftaa

Shillong, India. 

Checked and Approved by,

Mufti Ebrahim Desai.

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