Abstract: A wagering system provided by a betting organiser for one or more players to bet on an event. Each of the players provides the betting organiser with monetary value in order to be eligible to participate in the wagering system. The betting organiser accumulates the monetary value provided by each of the players into a centralised prize pool prior to the commencement of the event. The event comprises a plurality of integers having at least first and second possible outcomes, whereby, if the first outcome occurs, the players who wagered on the first outcome win and, if the second outcome occurs, the players who wagered on the first outcome lose. At the conclusion of each integer, a pay off dividend is credited to each winning player. At the conclusion of the event, the centralised prize pool is distributed to the players with the highest accumulated value of credited pay off dividends.