The gaming system of the present invention includes one or more slot machines associated with a racing display wherein the racing element or elements are not necessarily racing against each other. Rather, the racing element moves each time predetermined combination appears on the slot machine. A player is rewarded if his or her racing element reaches a predetermined position. While a clock may be included with each racing element racing against the clock, the racing elements may move independently of a clock. The racing display may be built directly into the slot machine so that the slot player can easily see the progress of his racing element. Alteratively, a large racing display may be utilized that displays a plurality of racing elements thereby giving the appearance that the racing elements are racing against each other. Even further, Win, Place and Show positions may be located adjacent a finish line and the slot player whose racing element reaches either of these positions is awarded a prize depending on the position reached.