All perfect praise be to Allah The Lord of The Worlds and may His peace and blessings be upon our Prophet Muhammad and upon all of his family and companions.
Betting takes place when every contender uses some of his money as a bet where the person, who had bet on the winning team, gets all the betting money.
Another form of betting occurs when two persons or groups bet on the possibility of something that might/might not happen. For example, when someone says:"If it doesn`t rain tomorrow, I will pay you a certain sum of money, but if it does, you`ll pay me that sum."
Moreover, the aforementioned form is prohibited according to the majority of Muslim jurists, because none of the contenders knows whether he is going to win or lose. Therefore, it is considered a form of prohibited gambling.
In addition, it is stated in [Hashyat Al-Bajermy 4/313]:"Whatever relates to betting and entails winning or losing, according to a result or the occurrence of something, is prohibited gambling/ betting."
Therefore, profit made from betting on the results of matches is prohibited, since Allah, The most Exalted, says (What means):" O ye who believe! Intoxicants and gambling, (dedication of) stones, and (divination by) arrows, are an abomination,- of Satan’s handwork: eschew such (abomination), that ye may prosper." [Al-Maidah/90]. And Allah the Almighty knows best.