A simulated auction bonusing game and method usable with games of chance, where one player terminal triggers a bonus round and is deemed a "seller" in the simulated auction, and all other active player terminals in a bank also participate as simulated "buyers." The "seller" makes choices of items to sell which are communicated to the "buyers." The "seller" watches are simulated bids are placed on their items, and "buyers" participate in simulated bidding of items shown on their screens. All the machines are synchronized so that the simulated auction bonus rounds play simultaneously. The seller and all buyers are awarded some winnings, enabling all player's terminals that run the simultaneous simulated auction bonus round to win each time the simulated auction bonus game is invoked.