There is provided a computerized reel-based gaming system configured to return at least part of a player's credits back to the player when at least one pre-defined combination of symbols has not been winning after a certain number N of spins of the reels. The method of operating the gaming system comprises: a) responsive to a spin of the reels, automated obtaining a result of matching between the spin output corresponding to a cash-back combination and a winning cash-back combination, thus, in case of a mismatch, giving rise to a non-winning event; b) automated assessing a number of consecutive non-winning events with respect to the cash-back combination; and c) automated initiating a cash-back award once the number of consecutive non-winning events reaches a cash-back triggering number corresponding to the cash-back combination.