The present disclosure is directed to a system and method of operating a gaming apparatus. In a particular embodiment, the method includes receiving a plurality of wagers made. The method also includes determining whether a prize event has occurred based on an outcome of a game play associated with the plurality of wagers made. Further, the method includes outputting prizes when the prize event occurs. Each of the prizes complies with a prize constraint limit, and a total value of the prizes is greater than a maximum per wager limit value. In addition, a totality of the prizes has a prize structure that is representative of a modeled prize structure of an apparatus that exceeds the prize constraint limit on a per wager basis.