Patent ID: 8801518

Claim:
A system for wagering on horse races in a tournament setup, the system comprising: a plurality of wagering stations connected to one another via a network, each wagering station configured to receive wagers of fantasy money from participants on a plurality of horse racing events; and a server connected to the network, the server configured to perform steps including: recording a first set of wagers made on a first horse race event at the plurality of wagering stations, tracking a first finishing order of horses in the first horse race event, determining payouts to the participants based on the participants' corresponding wagers and the first finishing order of the horses, awarding an amount of fantasy money to the participants at the plurality of wagering stations based on the determined payouts for the first horse race event, scoring the participants based upon scoring criteria to determine a corresponding score for each of the participants wherein the scoring criteria comprises at least one of a total amount wagered during one or more previous events, a number of events wagered on, or a percentage of amounts won versus amounts wagered, determining a first finishing order of the participants based on each of the participants' ending amounts of fantasy money and the corresponding score for each of the participants, cutting a portion of the participants based on the first finishing order to form a group of finalists, recording a second set of wagers from the group of finalists on a second horse race event, and determining prizes to be awarded to at least some of the group of finalists based on a second finishing order of the group of finalists.