A method and apparatus for wagering on a community event by a plurality of players. The apparatus includes a pay table ranking a preselected community event, a wagering place to accept individual wagers from each of the players on the occurrence of the preselected community event, a random number generator for establishing chance events during a game of chance, and a prize pool connected to the wagering place, which prize pool receives at least a portion of the accepted wagers. The players are rewarded from the prize pool if the preselected community event occurs during the game of chance. The method includes identifying. a community event, accepting wagers from players on the game of chance, entering part of the wagers into a prize pool, and rewarding the players from the prize pool if the community event occurs during the game of chance.