turning to fig1 , at block 100 , a gaming device 200 is provided to the player to allow a player to play the game in exchange for a wager amount . such gaming device 200 generally comprises hardware and software for playing a game of chance in a casino environment , such a slot machine , video poker machine , video keno machine , for example . the gaming device may also comprise a player terminal for play in a video lottery game environment , where game events are determined from random draws from a finite or fixed pool of game outcomes . while the present invention is suited for casino games based upon random chance , the present invention could also be used in conjunction with games incorporating skill such as video games , arcade games and the like . with reference to fig2 , the gaming device 200 includes a processor 202 for executing the game and memory for storage and retrieval of a game data . the gaming device 200 also generally includes input / output ( i / o ) devices for communication to the player , such as player controls , video output devices , sound output devices , for example . as depicted in fig2 , the ( i / o ) devices may be embodied as a handle 204 which the player , in a well known fashion , pulls to prompt play of the game . the gaming device 200 may also be coupled for communication to a network to communication with other systems , such as accounting servers , player tracking server , and prize servers , for example . continuing with fig2 , the device 200 is generally shown to have a housing 206 which contains the processor 202 and which may support a tangible prize display 208 which displays the tangible prize ( s ) offered for the game . a game display 210 displays the game play indicia such as , as shown , game play reels . the game display 210 may be a display of mechanical elements , e . g . reels , or may be embodied as a video display . for purposes of illustration , the game display 210 is shown as a display of electro - mechanical reels . the device 200 also includes means for accepting a wager . these means may be embodies as a token acceptor 212 as shown in fig2 . alternatively or additionally , these wager acceptance means may be embodied as a cash / script / voucher validator and reader , credit or debit card reader or the like . thus the player may make a monetary or monetary equivalent wagers to play the device 200 . as is known , the device 200 may also include a credit meter ( not shown ) to accumulate and register game play credits for play of the device 200 . disposed on the device 200 is a pay out schedule 214 which may be broken down into segments based upon the player &# 39 ; s game wager . the schedule 214 displays all winning outcomes and the awards for each for the player to confirm awards and to meet regulatory dictates . not shown in fig2 are means for dispensing a tangible prize award to the player . thee means may include means to physically transfer the tangible award , e . g . an item of jewelry , gold piece , voucher , certificate or the like from the tangible prize display 208 or they may be embodied as a voucher printer to print a ticket or voucher for the player to claim their prize elsewhere . still further , these means may be embodied as dispensing a token or instrument redeemable for the tangible prize or by hand delivery of the prize to the player by an attendant or delivery by courier . returning to fig1 , at block 110 , at least one tangible prize x is provided for award to the player pursuant to a defined prize - winning event occurring during play of the game . the event may be based upon an outcome being obtained at the game display 210 or pursuant to an outcome as a result of a bonus game . at block 120 , an operator purchase or acquisition cost ( a ) is determined for the prize x . as described above , due to the operator &# 39 ; s buying power , the acquisition cost ( a ) will typically be on the order of wholesale pricing for the prize x . at block 130 , the prize x is selected to have a player perceived prize value ( c ) which is greater than the acquisition cost ( a ). the perceived value ( c ) can be defined by techniques such as appraisal , survey or opinion evidence . the perceived prize value ( c ) is generally on the order of retail pricing for the prize x . for such items as jewelry , for example , player perceived prize value ( c ) may be determined by easily from an appraisal by a jeweler . at block 140 , a pay - table value ( b ) for the prize x is defined , the pay - table value ( b ) being less than the player perceive prize value c . in some cases , the pay - table value ( b ) may be equivalent to the operator purchase cost ( a ). thus the relationship of the acquisition cost ( a ), pay table value ( b ) and player perceived value ( c ) follows generally the following expression , at block 150 , the prize is assigned to the pay table for the game at an award value equivalent to the operator or game defined pay table value b determined in block 140 . the assignment of the pay table value ( b ) to the tangible prize and the inclusion of the tangible prize in the pay table schedule defines a performance for the device 200 of p 1 . for example , if the tangible prize has an acquisition cost ( a ) of $ 100 , a player perceived value of $ 200 , the tangible prize may be assigned a pay table value ( undisclosed to the player ) of $ 150 . based upon the calculation of winning outcomes , hit frequencies and assigned awards , the assignment of $ 150 to value ( b ) may define a device 200 having a performance p 1 ( which may be expressed as the pay out percentage ) of 0 . 98 . thus , based upon outcome probabilities and the awards assigned to winning outcomes , for every $ 100 the player wagers , they should win awards of $ 98 . however , if the player perceived value ( c ) is used instead of the pay table assigned value ( b ), the device performance is p 2 , which is greater than p 1 by virtue of the fact that the tangible award value ( s ) are higher . the player perceived higher performance p 2 may exceed 100 % making the game more enticing to the player . at block 160 of fig1 , upon the occurrence of the defined tangible prize winning event , the player is awarded tangible prize x . the player , having received the tangible prize x , makes either an informal evaluation of its value or a formal evaluation of its value ( i . e ., uses an appraiser ). a players &# 39 ; informal or formal evaluation of the value of prize x now adds to each players &# 39 ; perception of the total value received from the game being played . for a more formal player , this may include an approximation of the game &# 39 ; s overall payback ( from the player &# 39 ; s perspective ) by including the player perceived value of tangible prize x in the game &# 39 ; s perceived player payback . for less formal players , the player perceived value of prize x adds to the generalized impression of getting more back for your money than is possible from games which award only cash prizes ., however each individual player assess the perceived value of tangible prize x , the present invention provides for increased game play , player interest , and player satisfaction by creating a player perception of increased game payout not previously available . while the tangible prize award rnay be issued at the machine , in an alternative or additional embodiment , the available tangible prizes may be displayed at a touch screen video display for the player to select . at that point , either the machine would dispense the selected prize or the prize would be delivered by an attendant or the machine would dispense a voucher for the player to use to collect their prize . alternatively , the prize , where the winner is a hotel guest , the prize could be delivered to the guest &# 39 ; s room . still further , the displayed prize selection could represent prizes offered by a third party merchant , i . e . catalog selections , whereby the player &# 39 ; s selection would be transformed into a dispensed product order for the player to mail or travel to a store to collect the selected prize . even further , the dispensed voucher may represent information for the player to select qualifying prizes from an internet vendor for shipment to the player . as still a further embodiment , the player upon qualifying for the prize may select between being awarded an amount of game credits or the token prize . if the player elects the game credits , the same would be summed into the inventory of the player &# 39 ; s game credits . while i have referred to the prize award as a tangible prize it should be understood that such a term was meant to distinguish between a monetary award where all values ( a ), ( b ), and ( c ) are known and fixed , e . g . cash tokens , cash vouchers , cash value credits . the prize described herein could be anything such as goods or services , e . g . housekeeping services ; airline travel , where the device operator can purchase the product / services at a value ( a ), assign to the product / services a greater pay table value ( b ) and where the player would perceive the product / services to have even a greater value ( c ). while i have shown and described certain embodiments of the present invention it should be understood that it is subject to many modifications without departing from the spirit and scope of the claims .