Patent ID: 7887414

Claim:
A method of operating a gaming system, said method comprising: (a) receiving an indication of a price a player is willing to pay for a flat rate play session at a gaming device, said flat rate play session comprising a plurality of plays of a game, each play of the game associated with a wager amount and a probability greater than zero of resulting in an award having a value greater than zero; (b) determining a designated average expected payout for the flat rate play session; (c) after receiving the indication of the price the player is willing to play, determining at least one parameter of the flat rate play session based on the designated average expected payout and the indicated price the player is willing to pay; (d) causing at least one display device to display an indication of the at least one determined parameter of the flat rate play session; and (e) after receiving a value corresponding to the indicated price the player is willing to pay, causing the gaming device to initialize play of the flat rate play session in accordance with the at least one displayed parameter.