The present invention provides a processor controlled gaming device having a display device in communication with the processor. When the display device receives an input from the player, gaming device 10 randomly generates an outcome, the display device displays an event having the outcome and gaming device 10 provides the player with a payout in association with the outcome and the selected input. The inputs have paytables that vary in range. One input has a large, risky payout range with big and small payouts. One input has a small, conservative payout range with intermediate payouts. Other inputs have ranges that fall in between the risky and conservative ranges. Each of the ranges has the same overall expected value, so that gaming device 10 does not favor the player's choice of a risky or conservative input.