A device for dispensing prizes includes a housing having a plurality of
compartments, a door attached to the housing for coving the compartments,
and a lock for limiting access to the compartments. The contents of the
compartments are visible from the outside. Each compartment contains a
prize, such as a diamond. The housing may be part of, or linked to, a
gaming device. When a player wins a game, which entitles the player to
select a tangible award, the device signals this fact to the player. The
player then selects a compartment by pressing an input device located on
the housing. An attendant opens an external door, and inserts an
electronic key into a receptacle associated with the selected compartment,
and enters a required code into the key. The compartment then opens, and
the player obtains the prize. The device may also include an inventory
control system which preferably uses an RFID apparatus for monitoring the
contents of each compartment, and for keeping records of an inventory of
prizes.
