Various embodiments of the present disclosure are directed to a gaming system and method providing a multi-hand card game with modifiers available based on initially-dealt cards of the hands. Generally, for a play of the card game, the gaming system randomly determines two or more initial hands of cards and displays at least one card of each initial hand face-up. The gaming system determines, for each initial hand, whether a modifier triggering event occurred for that initial hand based on one or more of the cards of that initial hand. For a given initial hand, if the gaming system determines that the modifier triggering event occurred for that initial hand, the gaming system associates a modifier with that initial hand. The gaming system then finalizes each initial hand and determines any award associated with each finalized initial hand based on the cards of that initial hand and any associated modifier.