Redemption Games
Redemption games are typically arcade games of skill that reward the player proportionally to their score in the game. The reward most often comes in the form of tickets, with more tickets being awarded for higher scores. These tickets can then be redeemed (hence the name) at a central location for prizes. The most inexpensive prizes (candy, small plastic or rubber toys) may only require a small number of tickets to acquire, while the most expensive ones (skateboards, low end electronics) may require several thousand. In general, the amount of money spent to win enough tickets for a given prize will far exceed the price of the prize itself.
A popular variation on the ticket-based redemption game is to contain the prizes internally. Crane drop games have used this strategy for years, and more recently some redemption videogames have started offering internal prizes. The prizes in these machines are often better than anything that can be won by accumulating tickets; but these games have an "all-or-nothing" strategy, so the games are correspondingly made in such a way that a winner comes infrequently, and all other players get nothing at all.
Redemption games can be seen as the modern successor to carnival games, as the same general principles apply.