A gaming system and method for operating a gaming system is provided. The gaming system includes a central server that is linked to a plurality of gaming devices. The central server monitors wager and play activity on the gaming devices during a period of time. Based at least in part on the wager and play activity, the central server determines a ranking for one or more players or for one or more gaming devices in the gaming system. The central server selects which player(s) will be provided one or more awards based on the determined ranking. The determined ranking is based, at least in part, on the speed, skill and/or wagering activity of the one or more players.