Loss-reduction insurance in electronic gaming

1. A method of playing a wagering game in which winning outcomes are determined by random appearance of specific predetermined symbols the method being conducted on a gaming machine comprising at least one display, a player input device, a processor including a random number generator, at least one wager accepting device configured to accept a monetary wager from a player, and a memory storing machine readable code executable by the processor, the method comprising:

receiving a wager from a player at the wager accepting device representing monetary value on a single gaming event in the wagering game;

receiving a request via the player input device from the player to purchase for monetary value a safeguard action useful only in the single gaming event;

providing a first complete set of random symbols and displaying the set of random symbols on the at least one display;

when one symbol in the first complete set of random symbols operates to prevent or limit an amount of an award in the single gaming event, exercising the safeguard action;

discarding and replacing the one symbol with one randomly provided symbol to form a second complete set of random symbols and displaying the second complete set of random symbols on the at least one display; and

resolving the wager against a paytable using the second complete set of random symbols.

2. The method of claim 1 wherein the symbols are provided as virtual playing cards selected via the random number generator associated with the gaming machine processor and displayed on the at least one display.

3. The method of claim 1 wherein the symbols are randomly displayed on the at least one display in frames distributed in columns and rows, and winning outcomes are determined against the paytable according to paylines in the columns and rows.

4. The method of claim 3 wherein the gaming apparatus provides the symbols on mechanical reels.

5. The method of claim 1 wherein the symbols relate to a theme other than playing cards.

6. The method of claim 5 wherein the one symbol is an image that has a negative connotation within the theme.

7. The method of claim 1 wherein the safeguard action is purchased before the first complete set of symbols is provided, and the safeguard action is not usable after conclusion of the single gaming event.

8. The method of claim 1 wherein the safeguard action is purchased before the first complete set of symbols is provided, and the safeguard action is not usable after conclusion of the single gaming event.

9. The method of claim 5 wherein the safeguard action is purchased before the first complete set of symbols is provided, and the safeguard action is not usable after conclusion of the single gaming event.

10. The method of claim 6 wherein the safeguard action is purchased before the first complete set of random symbols is provided, and the safeguard action is not usable after conclusion of the single gaming event.

11. A gaming apparatus for presenting a wagering game, the apparatus comprising:

a processor including a random number generator,

player input controls,

at least one memory,

at least one wager accepting device configured to accept a monetary wager from a player, and

a display screen, the memory comprising machine readable instructions which when executed by the processor, cause the gaming machine to:

receive a wager from a player at the wager accepting device worth monetary value on a single gaming event in the wagering game;

receive a request from the player via the player input controls to purchase with monetary value a safeguard action useful only in the single gaming event;

display on the display screen to the player a first complete set of random virtual symbols;

when one virtual symbol in the first complete set of symbols prevents or limits an amount of an award in the single gaming event, receive input instructions from the player via the player input controls to exercise the safeguard action;

discard and replace the one virtual symbol with one randomly provided virtual symbol to form a second complete set of virtual symbols; and

resolve the wager against a paytable using the second complete set of virtual symbols.

12. The apparatus of claim 11 wherein the virtual symbols relate to a theme other than playing cards.

13. The apparatus of claim 12 wherein the one virtual symbol is an image that has a negative connotation within the theme.

14. The apparatus of claim 11 wherein the safeguard action is purchased before the first complete set of virtual symbols provided, and the safeguard action is not usable after conclusion of the single gaming event.

15. The apparatus of claim 12 wherein the safeguard action is purchased before the first complete set of symbols is provided, and the safeguard action is not usable after conclusion of the single gaming event.

16. The method of claim 2 wherein when a bonus event is awarded on a single game event where the safeguard action is in effect, the safeguard action is also in effect during play of the bonus event.

17. A method of playing a wagering game in which winning outcomes are determined by random appearance of specific predetermined symbols the method being conducted with at least one set of physical game pieces, the game pieces each comprising a game symbol, the method comprising:

receiving a wager from a player representing monetary value on a single gaming event in the wagering game;

receiving a request from the player to purchase for monetary value a safeguard action useful only in the single gaming event;

providing a first complete set of random physical game pieces from the at least one set of physical game pieces, the first complete set of random physical game pieces defining a first symbol set;

when one symbol in the first symbol set operates to prevent or limit an amount of an award in the single gaming event, receiving from the player a request to exercise the safeguard action;

discarding and replacing the one symbol with one randomly provided physical game piece comprising another random symbol to form a second symbol set; and

resolving the wager against a paytable using the second symbol set.

18. The method of claim 17 , wherein the at least one set of physical game pieces is at least one deck of physical playing cards.

19. The method of claim 1 , wherein the safeguard action is exercised based on instructions received from the player via the player input device.