A primary wager is placed by a primary player regarding an outcome of a gaming event, and a secondary wager is placed by a secondary player regarding an outcome of the primary wager. Tertiary wagers may also be placed regarding an outcome of the secondary wager. The outcome of the gaming event is determined. The outcome of the primary wager is determined based on the determined outcome of the gaming event. The outcome of the secondary wager is determined based on the determined outcome of the primary wager. The outcome of the tertiary wager is determined based on the outcome of the secondary wager. Winnings and losses are paid and collected, respectively. Wagering can be local or remote. Statistics and/or odds can be generated and displayed.