Gaming device and method for providing player selection of modifiers to game components

A gaming system comprising:

• at least one display device;
• at least one input device;
• at least one processor;
• and
• at least one memory device which stores 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, for a play of a game:
• (a) receive a selection of one of:
• (i) a first volatility of the play of the game, said first volatility associated with a first concentration of a plurality of modifiers applied to a plurality of game components, wherein the plurality of said game components are each different, and
• (ii) a second, different volatility of the play of the game, said second volatility associated with a second, different concentration of the plurality of modifiers applied to the plurality of game components,
• (b) for each game component with at least one applied modifier, modify said game component based on each modifier applied to said game component,
• (c) after modifying each game component with at least one applied modifier, display a quantity of award opportunities, said quantity of award opportunities being at least one, wherein said quantity of award opportunities are displayed distinct from the display of the quantity of modifiers and displayed distinct from the display of the plurality of game components, and
• (d) for each distinctly displayed award opportunity:
• (i) determine an award, said determination based on at least one random determination and at least one of the modified game components, and
• (ii) display any determined award.