The method of betting on participants in a tournament comprises creating at least two teams of at least one participating player playing in the tournament, the tournament having a series of at least two casino games in which the participating players will play; associating at least one event with at least one participating player during the tournament; a betting player selecting at least one chosen participant on which to place a bet, each of the chosen participant being one of a team and a participating player; the betting player identifying at least one event related to the tournament for which to place the bet, wherein the event is meaningful within the tournament; the betting player making a that the event will occur in association with the chosen participant during the tournament; determining an occurrence of the event in association with the chosen participant; and if the event occurred in association with the participant, determining a payout to be paid to the betting player; wherein the betting player is one of the participating player and a player who does not participate in the tournament. An apparatus is also provided.