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What are the restrictions and limitations of cash prizes?
All charitable games approved through the Charitable Games Act must be played using chips, scrip, or play money. Cash may never be used to wager on any of the games. Upon completion of play, a participant may redeem the chips, scrip, or play money in exchange for prizes. A participant may not exchange the chips, scrip, or play money for a cash prize(s) exceeding $500.00. During or immediately after the event, noncash prizes, including but not limited to precious metals or collectibles, may not be exchanged for cash at the premises used for conducting the charitable games event.
Some gift cards, such as Visa Gift cards, have wide-scale acceptance and would be considered a cash prize under the Charitable Games Act, and thus subject to the $500.00 limitation on cash prizes. Gift cards and gift certificates accepted only at a single place of business or at a chain of businesses, have limited acceptance and are not considered a cash prize unless the holder has the option to redeem the card or certificate for cash at the business.
For further information regarding cash prizes, refer to the Charitable Games Regulations, Section 435.160.