How does Islam view this activity? Well, it depends.
First, let me tell you a romantic story featuring prophet Mohamed and his wife, Aisha.
In Islam, we follow what the Quran says and what the prophet Mohamed said or did, even in the smallest of matters. This story is usually told in the context of describing the marital life of the prophet and how he treated his wives, but we can also derive other lessons from it, relating to the question at hand.
The story is as follows: there was a group of people at the time of the prophet who were amazing at playing with spears, like a form of artistic training. They did that in the mosque. One day the wife of the prophet, Aisha, asked the prophet to allow her to watch them, and since they lived right next to the mosque, she wanted to do it without leaving the house. She peeked out the door while leaning against the prophet’s arm. She watched the whole show from that position. She later said that she never wanted to watch. However, she wanted to test his love, as she kept leaning against his arm for approximately an hour, to see whether he got tired of her, He never did.
End of the story.
Islam wants you to enjoy and have fun in your life, but like everything else, it’s good in moderation. For example: don’t let watching games football soccer take you away from religious obligations like prayers or taking care of the people you are responsible for.
Also, don’t waste too much time on that, life is too short and too precious to spend it watching and not doing.
Also, Muslim men aren’t allowed to watch women’s sports, as they are ordered by Allah in the Quran to “lower their gaze” when dealing with women.
Finally, gambling on games is strictly forbidden in Islam.
In short, Islam wants you to have fun but having fun should not be the main purpose of your life.