Abstract: The invention provides a prize redemption system for use with one or more game apparatuses. A game is provided on a game apparatus for a player to play in exchange for monetary input, and prize credits are credited to the player based on the game outcome. A prize selection menu is then displayed by the game apparatus, the menu including one or more prizes, where the player may select a prize that has a prize cost within the player's prize credit amount. The player is dispensed a specific prize ticket that is redeemable for the selected prize. The game apparatus can also provide specific prizes and tournament games played for a tournament prize contributed to by multiple players. An operator can adjust prizes and payout percentages of the system to achieve a desired profitability for game apparatuses.