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A device for dispensing prizes includes a housing having a plurality of compartments, a door attached to the housing for coving the compartments, and a lock for limiting access to the compartments. The contents of the compartments are visible from the outside. Each compartment contains a prize, such

A device for dispensing prizes includes a housing having a plurality of compartments, a door attached to the housing for coving the compartments, and a lock for limiting access to the compartments. The contents of the compartments are visible from the outside. Each compartment contains a prize, such as a diamond. The housing may be part of, or linked to, a gaming device. When a player wins a game, which entitles the player to select a tangible award, the device signals this fact to the player. The player then selects a compartment by pressing an input device located on the housing. An attendant opens an external door, and inserts an electronic key into a receptacle associated with the selected compartment, and enters a required code into the key. The compartment then opens, and the player obtains the prize. The device may also include an inventory control system which preferably uses an RFID apparatus for monitoring the contents of each compartment, and for keeping records of an inventory of prizes.

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1. A system for awarding prizes, the system comprising:(A) at least one gaming device, the gaming device adapted to allow a player to place a wager, display a game, and produce at least a first predetermined prize qualifying event; (B) at least one prize housing, the prize housing comprising: (a) a

1. A system for awarding prizes, the system comprising:(A) at least one gaming device, the gaming device adapted to allow a player to place a wager, display a game, and produce at least a first predetermined prize qualifying event; (B) at least one prize housing, the prize housing comprising: (a) a plurality of walls defining a cavity, at least a portion of the cavity being viewable from outside the prize housing; (b) a plurality of prizes inside the cavity, at least a portion of the prizes being viewable from outside the prize housing; (c) a plurality of prize containers, each prize being held in a prize container; (d) a door coupled to the housing, the door limiting access to the cavity when in a closed position; and (e) a lock coupled to the door and configured to selectively secure the door in a closed position; (C) a prize dispensing mechanism coupled to the housing and configured to dispense prizes from the cavity to the player; (D) a processor in communication with the prize dispensing mechanism; (E) an inventory sensor in communication with the processor, the inventory sensor adapted to communicate information related to the number of prize containers in the cavity to the processor; (F) a player input device in communication with the processor, wherein when the first predetermined prize qualifying event occurs, the player may select a prize from the first plurality of prizes using the player input device, the prize dispenser then dispensing to the player a prize container containing the selected prize. 2. The system of claim 1, further comprising a plurality of prize compartments within the cavity, each prize compartment holding at least one prize container.3. The system of claim 2, wherein the prize containers are directly removable from the prize compartments.4. The system of claim 1 further comprising a prize lock adapted to selectively secure at least one of the prize containers, the prize lock in communication with the processor, wherein the processor will disengage the prize lock when the player has selected, using the player input device, the prize container secured by the prize lock.5. The system of claim 1 wherein each prize container comprises an inventory sensor.6. The system of claim 1 wherein the inventory sensor is an RFID tag.7. The system of claim 1 wherein the processor is in communication with a remote computer system and is adapted to transmit inventory information to the remote computer system.8. The system of claim 1 wherein the gaming device is remote from the prize housing.9. The system of claim 1, further comprising a video screen associated with the prize housing and configured to display information relating to the prizes.10. A system for awarding prizes, the system comprising:(A) at least one gaming device, the gaming device configured to allow a player to place a wager, display a game, and produce at least a first predetermined prize qualifying event; (B) at least one prize housing, the prize housing comprising: (a) a plurality of walls defining a cavity; (b) a first plurality of prizes inside the cavity; (c) a door coupled to the housing, the door limiting access to the cavity when in a closed position; and (d) a lock coupled to the door and configured to selectively secure the door in a closed position; (C) a processor in communication with the gaming device; (D) a player input device in communication with the processor, wherein, when the first predetermined prize qualifying event occurs, the player may select a prize from the first plurality of prizes using the player input device. 11. The system of claim 10, further comprising a plurality of prize containers, each prize located in a prize container.12. The system of claim 10, further comprising a plurality of prize compartments within the cavity, each prize compartment holding at least one prize.13. The system of claim 12, wherein the prizes are directly removable from the prize compartments.14. The system of claim 10 further comprising a prize lock adapted to selectively secure at least one of the prizes, the prize lock in communication with the processor, wherein the processor will disengage the prize lock when the player has selected, using the player input device, the prize secured by the prize lock.15. The system of claim 10 wherein each prize is associated with an inventory sensor.16. The system of claim 15 wherein the inventory sensor is an RFID tag.17. The system of claim 15 wherein the processor is in communication with a remote computer system and is adapted to transmit inventory information to the remote computer system.18. The system of claim 10 wherein the gaming device is remote from the prize housing.19. The system of claim 10, further comprising a video screen associated with the prize housing and configured to display information relating to the prizes.20. The system of claim 10, wherein at least a portion of the prizes are visible from outside the prize housing.21. A method comprising:allowing a player to place a wager on a game of chance having a randomly determined game outcome; randomly determining the game outcome; if the game outcome is a prize qualifying outcome, communicating the prize qualifying outcome to a processor; allowing the player to activate an input device, in communication with the game of chance the input device allowing the player to select a prize; dispensing the selected prize to the player. 22. The method of claim 21, further comprising unlocking a prize lock in communication with the processor and selectively securing the selected prize.23. The method of claim 21, further comprising dispensing the selected prize to the player in a prize container.24. The method of claim 21, wherein the prizes are located in a prize compartment, further comprising displaying information related to the prizes on a display associated with the prize compartment.25. The method of claim 21, further comprising displaying information related to the prizes to the player on a prize display.26. The method of claim 21, further comprising electronically monitoring the prizes from which the player may select.27. The method of claim 21, wherein each prize is located in a prize compartment, further comprising allowing the player to remove the selected prize directly from the prize compartment.28. The method of claim 21, further comprising allowing the player to view the prizes available for selection.29. The method of claim 21, wherein the prizes the player may view are dispensed to the player.30. A gaming apparatus for dispensing prizes, the apparatus comprising:(A) a prize vault comprising; (a) a housing; (b) a first plurality of prizes; (c) at least one compartment in the housing, the compartment adapted to hold at least one of the first plurality of prizes; (d) a prize lock associated with the housing and adapted to selectively limit removal of prizes from the compartment; (e) a door coupled to the housing, the door limiting access to the compartment when in a closed position; and (f) a lock coupled to the door and configured to selectively secure the door; (B) a processor in communication with the prize lock and a gaming device; (C) a player input device in communication with the processor, wherein, when a first predetermined prize qualifying event occurs on the gaming device, the player may select a prize from the first plurality of prizes using the player input device, the prize lock will be released, and the selected prize will be dispensed to the player. 31. The gaming apparatus of claim 30, further comprising an inventory monitoring system.32. The gaming apparatus of claim 31, wherein each of the plurality of prizes comprises an inventory control device.33. The gaming apparatus of claim 32, wherein the inventory control device comprises an RFID tag.34. The gaming apparatus of claim 30, further comprising a plurality of prize containers, wherein at least one prize is located in each prize container, and the prize containers are dispensed to the player.35. The gaming device of claim 34, further comprising a plurality of inventory control devices, each prize container comprising an inventory control device.36. The gaming device of claim 30, further comprising a second plurality of prizes, the first plurality of prizes being of a first prize type and the second plurality of prizes being of a second prize type, wherein, when a second prize qualifying event occurs on the gaming device, the player is allowed to select one of the second plurality of prizes.37. The gaming device of claim 30, wherein the first plurality of prizes comprises at least a first and second prize type, wherein the player may select a prize of the first or second type using the player input device.38. The gaming device of claim 30, further comprising a prize dispenser associated with the prizes, the prize dispenser configured to dispense a prize to the player when directed by the processor.39. The gaming device of claim 30, the vault further comprising a plurality of prize compartments, at least one prize located in each prize compartment.40. The gaming device of claim 39 wherein the prizes may be removed by the player directly from the prize compartments.41. A system for awarding prizes, the system comprising:(A) a least one gaming device, the gaming device adapted to allow a player to place a wager on a game of chance, display a game, and produce at least a first predetermined prize qualifying event; (B) at least one prize dispensing device comprising at least a first plurality of prizes; (C) a processor in communication with the gaming device and the prize dispensing device; (D) a player input device in communication with the processor, wherein, when the first predetermined prize qualifying event occurs, the player may select a prize from the first plurality of prizes using the player input device. 42. The system of claim 41, the prize dispensing device further comprising a plurality of prize containers, each prize container containing at least one prize, wherein the prize containers are dispensed to the player.43. The system of claim 42, each prize container further comprising an inventory sensor.44. The system of claim 43, wherein the inventory sensor comprises an RFID tag.45. The system of claim 41, the prize dispensing device further comprising a plurality of prize compartments, at least one prize being located in each prize compartment.46. The system of claim 45, wherein at least one prize is removable directly from the prize compartment.47. The system of claim 41, the prize dispensing device further comprising a display device configured to display information regarding the prizes to the player.48. The system of claim 41, the plurality of prizes comprising at least two types of prizes, wherein the player may use the player input device to select a prize of the first or second type.49. The system of claim 41, the plurality of prizes comprising at least two types of prizes, the gaming device further adapted to produce at least a second predetermined prize qualifying event, wherein if the first prize qualifying event occurs, the player may select a prize of the first type, and if the second prize qualifying event occurs, the player may select a prize of the second type.50. A system for dispensing prizes, the system comprising:(A) gaming means for allowing a player to place a wager and play a game of chance, the gaming device configured to display a game and produce at least a first predetermined prize qualifying event; (B) a plurality of prizes; (C) housing means for holding the plurality of prizes; (D) prize dispensing means coupled to the housing means and configured to dispense prizes to the player; (E) processor means for communicating with the prize dispensing means and player input means; and (F) player input means for allowing the player to select a prize, the player input means in communication with the processor means, wherein, when the first predetermined prize qualifying event occurs, the player may select a prize from the plurality of prizes using the player input means, and the prize dispensing means will dispense the selected prize to the player. 51. The system of claim 50, the housing means comprising display means for communicating to the player information relating to the prizes.52. The system of claim 50, further comprising inventory monitoring means for communicating to the processing means information relating to the number of prizes in the housing means.53. The system of claim 50, further comprising a plurality of prize container means for holding the prizes, wherein the prize container means containing the selected prize is dispensed to the player.54. The system of claim 50, the housing means comprising a plurality of prize compartment means for holding the prizes, wherein each prize compartment means holds at least one prize.55. The system of claim 50, wherein at least a portion of the plurality of prizes are viewable by the player.