Online wager system and method

A computer-implemented method comprising:

• (A) receiving a first electronic deposit of a first amount of first currency from a first user into a first user account, a second electronic deposit of a second amount of second currency from a second user into a second user account, and a third electronic deposit of a third amount of first or second currency from a third user into a third user account;
• (B) by one or more computer systems, converting the first amount of first currency to a first amount of system credits in the first user account, the second amount of second currency to a second amount of system credits in the second user account, and the third amount of first or second currency into a third amount of system credits in the third user account;
• (C) by the one or more computer systems, receiving a request from the first user to send an electronic message to the second user and to the third user including information regarding a wager pertaining to a hypothetical outcome of an event, the information including a wager amount, wager criteria, and an invitation to participate in the wager with the first user;
• (D) by the one or more computer systems, receiving the information regarding the wager from the first user;
• (E) by the one or more computer systems, comparing the first amount of system credits to the wager amount to determine if the first amount of system credits is equal to or greater than the wager amount;
• (F) by the one or more computer systems, upon a determination that the first amount of system credits is equal to or greater than the wager amount:
• (G) deducting a first amount of wagered credits equal to the wager amount from the first amount of system credits and placing the first amount of wagered credits into a holding account;
• and
• (H) sending the electronic message to the second user, the electronic message including at least some of the information and a first selectable user interface element, wherein selection of the first selectable user interface indicates an acceptance of the invitation;
• (I) sending the electronic message to the third user, the electronic message including at least some of the information and a second selectable user interface element, wherein selection of the second selectable user interface indicates an acceptance of the invitation;
• (J) by the one or more computer systems, receiving an indication of a selection of the first selectable user interface element by the second user;
• (K) by the one or more computer systems, comparing the second amount of system credits to the wager amount to determine if the second amount of system credits is equal to or greater than the wager amount;
• (L) by the one or more computer systems, upon a determination that the second amount of system credits is equal to or greater than the wager amount:
• (M) deducting a second amount of wagered credits equal to the wager amount from the second amount of system credits and placing the second amount of wagered credits into the holding account;
• (N) adding the second user to the wager with the first user;
• (O) by the one or more computer systems, receiving an indication of a selection of the second selectable user interface element by the third user;
• (P) by the one or more computer systems, comparing the third amount of system credits to the wager amount to determine if the third amount of system credits is equal to or greater than the wager amount;
• (Q) by the one or more computer systems, upon a determination that the third amount of system credits is equal to or greater than the wager amount:
• (R) deducting a third amount of wagered credits equal to the wager amount from the third amount of system credits and placing the third amount of wagered credits into the holding account;
• and
• (S) adding the third user to the wager with the first user;
• wherein the wager includes a first wager including a first bet that a first player will place higher, lower, or exactly at a first defined finishing position in a first event compared to at least two other players in the first event.