My friends invited me to participate in a football tournament (FIFA) competition. A participant will have to pay 200 taka (less than $US 3) for entering. The winner will get 600 taka and the runner up will get 350 taka. Since there is a matter of money and a possibility of losing the money, I am quite unsure about my participation.
I want to know whether these types of competitions are permissible or not. Is it a type of gambling or not?