Patent ID: 7963842

Claim:
A gaming system comprising: at least one display device; at least one input device; at least one processor; and at least one memory device storing a plurality of instructions, which when executed by the at least one processor, cause the at least one processor to operate with the at least one display device and the at least one input device to: display a first event in a game, determine if a first award amount displayed to a player as a result of said first event in the game is greater than or equal to a tax threshold amount, if said first award amount is less than said tax threshold amount, cause said first award amount to be provided to the player, and if said first award amount is greater than or equal to said tax threshold amount: (a) enable the player to proceed with a second event in the game wherein an excess amount is risked, said excess amount being greater than the difference between the first award amount and the tax threshold amount, (b) if the player does not proceed with the second event, cause said first award amount to be provided to the player and cause tax reporting data to be generated for submission to a taxing authority, and (c) if the player proceeds with the second event: (i) determine an outcome for the second event at least in part based on the excess amount, (ii) if the outcome is a winning outcome, cause an increased award amount including the first award amount and a tax award amount to be provided to the player, said tax award amount including an amount needed to at least partially cover a tax amount on the first award amount, and (iii) if the outcome is a losing outcome, cause said first award amount less the excess amount to be provided to the player.