Earlier I mentioned a second method that I had come across while trying to deduce an optimal formula for selecting a website's Game of the Year. You can read about it here.

Spinning off of the 5-point scale and the "bonus point" idea, this alternate formula takes into account a completely free use of points. The traditional 5-point scale totals a use of 15 points. Instead of assigning set points, allow the voters to re-assign 20 points however they want as long as they use all 20 points across 5 games, and no game gets more than 8 points. Game A may get 8 points, Game B may get 6, and Games C, D, & E only 2 points each. This essentially completely eliminates GOTY ties and allows for voters to assign points based on more emotional experiences with games rather than formulaic math. It also does end up skewing towards one or two games in each person's list, so it isn't perfect either.