An outcome is just TEXT, so anything you can think of that you can type into the block can be wagered on.. ie and Event can be a single event like a RACE or you can do things like Seasons and have outcomes be standings..
ie
Event: 2014 NFL Regular Season
outcome 1: AFC West Final Standings. 1. Raiders, 2, Broncos, 3, Chiefs, 4 Chargers
outcome 2: AFC West Final Standings. 2. Raiders, 3, Broncos, 4, Chiefs, 1 Chargers
outcome 3: AFC West Final Standings. 3. Raiders, 4, Broncos, 1, Chiefs, 2 Chargers
outcome 4: AFC West Final Standings. 4. Raiders, 1, Broncos, 2, Chiefs, 3 Chargers
You can also do PARLAYS
outcome 1: Driver 1, Driver 2, Driver 3 all place in the Top 10 (and that outcomes pays of those 3 drivers finish the race in the Top 10).
Outcomes can be anything you want as long as you can determine whether they payout or not.
As far as POINTS.. no, its WAGER... ie BETTING.. you place a wager (ie, you put down $100 on outcome 1 at 2 to 1 odds) and if you win, you get your $100 stake back, plus your winnings (based on 2 to 1 odds, you'd get $200).