The main goal of the game is to earn as much money and prizes as possible through collecting spins by answering trivia questions correctly, then using those spins on a gameboard to win various prizes and cash amounts while attempting to avoid the show's eponymous character, the "Whammy."

The series was taped at Tribune Studios and was hosted by Todd Newton, with Gary Kroeger announcing.

In round two, one space labeled "$2,000 or Lose-1-Whammy" gave the contestant a choice of a cash prize of $2,000 or removing a previously landed-upon Whammy (also seen on the classic show).

In round two, the contestant needed to land on the "CAR" space, and again avoid the Whammy, and also win the game.

For example, the prizes and light patterns for each space on the Big Board were randomly generated using a personal computer, running at a speed of 200 MHz.

[7] Tomarken explained that he was asked to change his style of hosting, saying, "It was terribly hurtful and I think I was doomed before I did [the audition].

Following the conclusion of the Tournament of Champions, which completed its run on July 25, 2003, a combination of first-run new episodes and reruns continued to air until December 5.

[15] Janie Litras and Ed Long appeared on a special episode coinciding with GSN's documentary Big Bucks: The Press Your Luck Scandal.

Litras and Long originally appeared on the episodes airing June 8 and 11, 1984, competing against Michael Larson, who had memorized the light pattern and went on to win $110,237.

Larson's brother, James, competed in the 2003 episode against Litras and Long, as Michael had died of throat cancer in 1999.

The July 21, 2003 episode featured a "Tournament of Losers" starring three past contestants who had lost their previous games.

[16] July 22–25 of that same week in 2003 featured a Tournament of Champions, with nine of the biggest winners to that point competing for additional cash and prizes.

Friday's episode featured higher-valued spaces in both rounds, and the eventual winner also received a Suzuki Aerio SX as a bonus prize in addition to their grand total winnings.

lasted on GSN for only two seasons, leading Garin Pirnia of Mental Floss to deem the series "[not] a huge hit like its predecessor.

"[17] At the sixth World Media Economics Conference, Eileen O'Neill and Marianne Barrett listed Whammy!

"[18] The series was also mentioned in Steve Ryan and Fred Wostbrock's The Ultimate TV Game Show Book in a list of GSN original programs.