Abstract: A knowledge based wagering game affords a plurality of players an opportunity to place a wager on the game. A sequential series of questions is displayed to each player who must select a correct answer from a plurality of possible answers within a predetermined period of time. The answers selected by each player are recorded and the players are ranked with respect to all of the other players based on the number of correct answers selected and the amount of time taken to select the answers. Under a pari-mutuel betting system payouts are made in accordance with the players' relative scores.