This was the format used by the Dutch show "Miljoenenjacht" (Hunt/Chase for Millions) which initiated the "Deal or no Deal" game (originally the Dutch show was based on a German format called "Die Chance deines Lebens" (The Chance of your Lifetime) which was based on trivia questions and did not have the briefcase element at all).
The main game revolves around the opening of a set of numbered briefcases, each of which contains a different prize (cash or otherwise).
Depending on subsequent choices and offers, it is determined whether or not the contestant made a "good deal", i.e. won more than if the game were allowed to continue.
Richie also won an additional $10,000 after completing the "Banker's Challenge" minigame, thus making his total winnings $10,001.
The game show has attracted attention from mathematicians, statisticians, and economists as a natural decision-making experiment.
In 2008 a team of economists analyzed the decisions of people appearing in Dutch, German and U.S. episodes and found, among other things, that contestants are less risk-averse or even risk-seeking when they saw their expected winnings drop.
[71] The research received a great deal of media attention, appearing on the front page of The Wall Street Journal[72] and being featured on National Public Radio.
[73] This work was built upon by de Roos and Sarafidis, who analysed the Australian version of the show and determined that the risk-taking behaviour of a number of contestants would be inconsistent within each game (i.e. their aversion to risk would change), depending on the state of play and relative risk aversion of their confidant on the show.
Despite its air of originality and huge international success—there are more than 60 versions worldwide—there have been, in fact, numerous antecedents to the current run of shows.
The first was the It's in the Bag, a New Zealand radio game show invented by Selwyn Toogood which began in the 1950s and which ran for decades after it was later adapted for television (1970s–90s).
Another long-running game show, Let's Make a Deal, involved contestants deciding whether or not to take offers based on what may or may not be behind a curtain/door or inside a box.
The show featured contestants selecting a treasure chest or box with surprises inside in the hope of winning large prizes or a cash jackpot.
Online gamblers experience the show's concept when securing a Full House win in the themed bingo rooms.
The sense of community, often embraced by bingo players, is called upon as they assist the winner in determining the best option by commenting in the room's chat section.
Under this contract, Playtech is granted exclusive rights to deliver these themed games to the UK market.