In various embodiments, the gaming system and method disclosed herein enables a player to allocate portions of a selected predetermined wager amount amongst a plurality of linked games. In one such embodiment, the player selects allocation percentages such that the total of the allocated portions according to the allocation percentages equals the selected predetermined wager amount. For each of the plurality of linked games, the gaming system determines and displays a game outcome, and determines and displays an award associated with the determined game outcome. The gaming system further provides the determined award for each of the plurality of linked games to the player.