A gaming device having a transformable wild symbol or card on a set of reels or a transformable wild card in a set of cards, wherein the transformable wild symbol or card provides a signal to a player through a wild indicator or a non-wild indicator. The wild indicator indicates that the transformable wild symbol or card is in a wild state. The non-wild indicator indicates that the transformable wild symbol or card is in a non-wild state. In a wild state, the transformable wild symbol or card acts as a wild symbol or card on a set of reels, or a wild card.