Gaming device and method having purchasable randomly selected paytables

A gaming device operable under control of a processor, said gaming device comprising:

• a game controlled by the processor;
• a first paytable associated with the game, the first paytable having an average expected payback;
• a plurality of different second paytables, each second paytable having an average expected payback;
• an input device in communication with the processor;
• and
• a display device in communication with the processor and operable to display the game;
• wherein the processor is configured with the display device and the input device to control a play of the game by:
• (a) enabling the player to input one of:
• (i) a first wager amount to cause a play of the game, and
• (ii) a second wager amount to cause a play of the game, said second wager amount being different than said first wager amount,
• (b) if the player inputs said first wager amount and not said second wager amount:
• (i) determining an outcome of said play of the game based on the first paytable, and
• (ii) providing the determined outcome to the player, and
• (c) if the player inputs said second wager amount:
• (i) randomly selecting one of the second paytables,
• (ii) determining whether the average expected payback of the selected second paytable is higher than the average expected payback of the first paytable,
• (iii) if the average expected payback of the selected second paytable is higher than the average expected payback of the first paytable, determining an outcome of said play of the game based on the selected second paytable,
• (iv) if the average expected payback of the selected second paytable is not higher than the average expected payback of the first paytable, determining an outcome of said play of the game based on the first paytable, and
• (v) providing the determined outcome to the player.