Abstract: A multimedia wagering system consists of a race providing system for facilitating wagering on race events, and a plurality of multimedia wagering terminals in communication with the race providing system for wagering on the race events. The race provider includes means for selecting race events for wagering. The wagering terminal includes a multimedia display for displaying the selected race events, a user interface for placing a wager on the selected race event, payout means for providing a payout on the selected race events, and data processing means in communication with the multimedia display, the user interface and the payout means for facilitating wagering on the selected race events.