Dynamic tournament gaming method and system, including the provision of a plurality of gaming terminals selectively interlinkable together with a host terminal so that current players of the terminals desiring to participate in group tournament play can be notified of the opportunity and provided with the choice to play or not. If a current player chooses to play, he so signifies, enters his entry fee into the terminal, and awaits start of the event. Upon start of the tournament by the host terminal, the player will play the tournament game over and over as fast as possible to accumulate as many points as possible during a particular pre-announced tournament period. The host terminal will continuously monitor the terminals of all play participants, dynamically record play status, and control termination of the game period. It will also conduct an accounting of the results, issue win results notification, and perhaps provide remote pay-out of game winnings.