Shared progressive with certificates gaming system and method
Disclosed is a progressive system for paying out a primary progressive prize and a secondary progressive prize. The system includes a progressive controller, a plurality of game devices each configured to execute a game of chance and a network interconnecting the progressive controller and the game devices. A funding module is executable by the progressive controller to maintain primary and secondary award pools. In accordance with one or more embodiments, the game devices may award shares of the secondary progressive pool to players. When the primary progressive is triggered, share holders may redeem their shares for a value determined by the system. In some embodiments, winners of shares may monitor the value of their pending certificates through various outlets such as social media sites.
1. A progressive system for paying out a primary progressive prize and one or more secondary prizes, said progressive system comprising:
a progressive controller;
a plurality of game devices, each comprising a first input device to detect a physical item associated with a monetary value to establish a credit balance and a second input device to receives a cashout input that initiates a payout from the credit balance configured to receive one or more wagers that are deducted from the credit balance and to execute a game of chance and, upon a win event, award one or more certificates redeemable for one or more shares of a certificate pool upon occurrence of a progressive win event;
a network interconnecting said progressive controller and said plurality of game devices;
a funding module executable by said progressive controller, said funding module configured to:
allocate a fixed percentage of the one or more wagers to funding a progressive award pool and a certificate award pool;
apply a first portion of the fixed percentage to the progressive pool and a second portion of the fixed percentage to a certificate pool;
determine the current value of a share of the certificate pool based at least in part on the number of shares awarded to date and the current value of the certificate pool;
make the current value per share known to players or perspective players of the game devices;
upon occurrence of the progressive win event, fix the redemption value of the awarded certificates according to the current value of a share of the certificate pool.
2. The system of claim 1 wherein the first portion of the fixed percentage decreases over time and the second portion of the fixed percentage correspondingly increases over time.
3. The system of claim 1 , wherein some or all of a mystery award pool is paid upon occurrence of the mystery win event.
4. The system of claim 3 further comprising a third portion of the fixed percentage of the progressive pool allocated to funding the mystery award pool.
5. The system of claim 4 , wherein the first and third portions of the fixed percentage decrease over time and the second portion of the fixed percentage correspondingly increases over time.