A gaming system and method involving a dice game. The gaming system displays a plurality of wager areas. Each wager area is associated with a wager area value. The gaming system indicates a plurality of different reward ratios associated with the wager areas. One or more of the wager areas are selectable by the player for wagering. A plurality of dice are simulated as rolled. If the sum of the stopped dice is equal to the value of any of the wagered upon areas, the gaming system provides an award. If a bonus condition is satisfied, the gaming system provides a bonus outcome.