A method for conducting a community wagering game on one or more gaming devices comprises receiving a first wager from a first player and determining a first modifier associated with the first player based upon play of a first base game. The method further comprises triggering and displaying a community gaming event comprising a competition and determining a finishing order of a plurality of participants in the competition, the plurality of participants including at least first and second participants. The method further comprises associating the first player with the first participant, determining a first prize value for the first participant, the first prize value based upon the finishing order, and awarding the first player a first award comprising the first prize value as modified by the first modifier.