A gaming machine presents an elimination game to a player to be played on a stand-alone gaming machine or on a group of gaming machines linked together. The elimination game is played by a plurality of entities where each entity may comprise one or more virtual or real players. The real players may pay a participation fee to play the elimination game. During the elimination game, the entities play one or more games that are provided as part of the elimination game. One or more elimination tests may be applied to the entities using results from the game play. When conditions used in the elimination tests are met for one of the entities, the entity is removed from the elimination game before reaching the finish of the elimination game. Entities that avoid elimination and reach the finish of the elimination may receive an award.