System and method of providing a hold and spin game with player selected volatility

A gaming device, comprising:

• a player interface;
• a memory storing instructions;
• a display system comprising one or more display devices;
• and
• a control system comprising one or more processors, wherein execution of the instructions causes the control system to:
• present a plurality of volatility options via the player interface, wherein each volatility option comprises a first control factor and a second control factor, wherein each first control factor comprises at least one of an initial quantity of spins, a matrix height for display positions of the display system, or a quantity of matrices, and wherein each second control factor counteracts its respective first control factor to maintain a same return-to-player across the volatility options;
• receive, via the player interface, a volatility selection that selects a volatility option from the volatility options;
• for each spin of a hold and spin game:
• present, per the selected volatility option, a game outcome at the display positions of the display system;
• hold each configurable symbol of the game outcome at its respective display position of the display system;
• and
• replace each non-configurable symbol of the game outcome with a replacement symbol;
• and
• present an award for the respective configurable symbol that is based on a sum of values presented by the configurable symbols.