1. A distributed electronic tournament system in which a plurality of remotely located players participate in a tournament through input/output devices connected to a central controller which manages the tournament, the system comprising: (a) means for uniquely identifying a player communicating with the central controller via an associated input/output device; (b) means responsive to payment of an entry fee by the player for allowing the player to participate in a tournament occurring within a fixed time window via an associated input/output device; (c) means for accessing a database to store in the database player information that is generated as the player participates in the tournament, such information being available for use in a subsequent tournament, which is administered by said controller and in which the player participates; and (d) means for awarding the player a prize for achieving a pre-established performance level in the tournament.