The invention is a gaming system and method that includes a dynamic
paytable. The method operates by enabling a game session that includes a
plurality of game events. After each game event, the player is given an
opportunity to terminate or continue the game session. The player can use
skill to determine whether to terminate or continue the game session. A
paytable determines whether a prize is awarded to said player after each
game event. In one embodiment, the dynamic paytable is displayed on a
player interface. During the game session, the player may terminate the
game session before the remaining game events are completed. The player
is provided with an opportunity to view the paytable and can generate a
strategy to maximize the prize awarded or minimize losses generated
during the game session.