Abstract: A server hosting a website and method thereto for managing an interactive system for a plurality of users connected via a communication network, wherein each user may play as a bettor and/or as a bookie on a real life scheduled competition, such as a sporting event. The user who is assigned to play as the bookie in the scheduled competition is responsible for setting the odds for the scheduled competition. Information may be provided to the plurality of users for assisting users with both making a wager and for setting the odds for their assigned scheduled competition. The results of the wagers are based on the outcomes of the scheduled competition, and the users are ranked and compensated accordingly.