The present invention is directed generally to a method and apparatus for
operating a gaming device having a flat rate play session costing a flat
rate price. The flat rate play session spans multiple plays on the gaming
device over a pre-established duration. The gaming device identifies
price parameters and determines the flat rate price of playing the gaming
device based on those price parameters. In one embodiment, identifying
price parameters includes receiving player selected price parameters. In
another embodiment, price parameters further incorporate operator
selected price parameters. Should the player decide to pay the flat rate
price, the player simply deposits the necessary funds into the gaming
device or makes a credit account available for the gaming device to
debit. Once the player initiates play, the gaming device tracks the
duration remaining in the flat rate play session and stops the play when
the given period has elapsed. During the play, payouts are made either
directly to the player in the form of coins or indirectly in the form of
credits to the player's credit account.