The prohibition of "PSIKA" forbids paying for a purchase in advance of receiving the item purchased if the seller will not charge the buyer more in the case of a price increase at the time of receipt of the product purchased. The actual pre-payment is forbidden, even if no eventual price increase occurred. Thus, why is it permitted to purchase a lottery or raffle ticket in advance of the drawing time, being that the purchaser receives nothing at the time of purchase? (The ticket itself is not the item purchased, it is rather just a record of his payment to enter the lottery or raffle at the time of the drawing).

  • It sounds like you are saying that options (see investopedia.com/university/options/option.asp) constitute ribbis. Is that correct? – Dov F Apr 24 '18 at 23:16
  • @Dov F Certain options, when purchased from a Jew, may have ribbis issues.. One should consult with a Rabbinical authority who is well versed both in the commodity market and in the laws of ribbis before purchasing options from a Jewish source. – RibbisRabbiAndMore Apr 24 '18 at 23:21
  • I'm unfamiliar with the rule of p'sika, but can we say as follows? Consider someone who lost the lottery. What did he purchase? Obviously only the chance to win. So that's all the winner purchased also (and its delivery is at the time of drawing, before the winner is discovered, and it hasn't risen in value yet). The later delivery of winnings is not of the purchased item but separate from the purchase and thus not subject to p'sika. – msh210 Apr 25 '18 at 0:59
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    This question would be more valuable to more readers if it would cite a source for its first two sentences. By the way, thanks for your recent spate of answers: thank you for bringing your expertise to Mi Yodeya. – msh210 Apr 25 '18 at 1:00
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    @RibbisRabbi " since until the time of the drawing, when the purchaser gets his chance to win, he receives nothing, " Why does he only receive his "chance to win" at drawing time? He receives it at purchase. – user15253 Apr 25 '18 at 12:10

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