A gaming system including at least one gaming machine enabling a player to select at least one of a plurality of different selectable side bets. A side bet controller maintaining at least one side bet. A side bet revenue manager configured to communicate with the gaming machine and side bet controller to accept and track fund data associated with a side bet from the gaming machine; transfer fund data to the side bet controller; accept and track fund data from the side bet controller; and transfer fund data to the gaming device.