On embodiment of the gaming system: receives a base wager from a player for a play of a wagering game; enables the player to select to cause a modifier to be applied to the play of the wagering game or the modifier to not be applied to the play of the wagering game; displays an outcome of the play of the wagering game; if the outcome is a losing outcome and if the player caused the modifier to be applied to the play of the wagering game, reset the modifier; if the outcome is the losing outcome and if the player caused the modifier to not be applied to the play of the wagering game, increase the modifier; if the outcome is a winning outcome and the player caused the modifier to not be applied to the play of the wagering game, provide a first award to player based on the winning outcome and the base wager, and reset the modifier; and if the outcome is a winning outcome and the player caused the modifier to be applied to the play of the wagering game provide a second different award to the player based on the winning outcome, the base wager, and the modifier, and reset the modifier.