What's funny about that game is that it makes the least gay guy do the most gay thing for losing.
If you're gay, nothing would be better than jerkin off with a group of frat boys in hopes of "winning" the cookie.
If you're not gay (but still participated in the game, which makes no sense to me

) then it would be very difficult to blow a load with a bunch of dudes.
So while the real gay guys are really getting into it, wanting that cookie and thinking about their buddy's jizz, they blow. And the last guy, not so in to it, not loving the jizzfest, can't blow and ends up with a mouthful.
Seems like this would be better played by a bunch of gay men and the first one to get off should get the cookie.