Jackson Pickering, who was 18, died after the accident in Springfield Road on Saturday, June 16th.
The idea for the football tournament to help his family came from Mandy Duffy who lost her own son, Declan Edwards, in 2014 at the age of 16.
A football match was held then to help Mandy and her family organised by Burnley man, Ben Charlton, who also arranged Sunday's event.
He said: "Both Mandy and I would like to thank everyone who turned up and played their part.
"It was a massive success."
In a poignant twist, the friends of Jackson played against a team made up of the friends of Declan.
The pair were pals who both attended Unity College in Burnley and Jackson played in the charity match set up in Declan's name after his death.
Ben added: "Declan and Jackson must be chilling together up there as they wouldn't let either of the Declan's 11 vs Jackson's 11 win.
"It finished at a 4-4 draw which is a great touch."
Held at Queen's Park in Burnley in baking sunshine, crowds turned up to support the event and there were collection buckets for them to make a donation.
And the tournament has brought the grand total raised for Jackson's family to the magnificent sum of Â£3,637.
Donations on a crowdfunding page totalled Â£1,700 and the sale of a shirt owned by Oliver Norwood, a professional footballer from Burnley who now plays from Brighton, made Â£400.
Ben added: "What an achievement this is. I love this town.
"People slate Burnley at times but what a solid unit we are in time of need."