What is the ruling on paying money to participate in an electronic game competition in the real world, knowing that each participant receives in-game prizes, some of which have a material value greater than the subscription fees?

It is not permissible to participate in the aforementioned competition to obtain in-game items because spending money to enter it constitutes gambling, which is forbidden by the Almighty's saying: "O you who have believed, indeed intoxicants, gambling, [sacrificing to] stone altars for idols, and divining arrows are but defilement from the work of Satan, so avoid it that you may be successful." Your desire to purchase the items does not make participation permissible.