8 Colo. Code Regs. § 1505-2-9

Current through Register Vol. 47, No. 22, November 25, 2024

Rule 8 CCR 1505-2-9 - Prize Amounts and Payment of Prizes

9.1 Occasion and single game prizes. As long as the total value of prizes offered during a bingo occasion, including any occasion in which both strip bingo games and traditional bingo games are played, does not exceed the statutory maximum of $15,000 in section 24-21-618(11)(d), C.R.S., a licensee may award:

9.1.1 Any amount as a prize for any single game of traditional bingo; and

9.1.2 A maximum of $1,000 for any single game of strip bingo per section 24-21-618(11)(b), C.R.S.

9.2 Progressive prizes

9.2.1 Progressive bingo. The maximum progressive jackpot prize may not exceed $15,000.

9.2.2 Progressive pull tab games. The maximum progressive pull tab prize may not exceed $5,000.

9.2.3 Progressive raffle. The maximum progressive raffle prize may not exceed $15,000.

9.3 Payment of prizes

9.3.1 Pull tab prize payment. Licensees must award all pull tab prizes immediately upon determination of a winner.

9.3.2 Time to redeem pull tab. If a ticket holder presents a pull tab ticket more than 21 days after the licensee closes the pull tab deal, the ticket is void and irredeemable except as otherwise provided in these rules and unless the licensee's house rules provide an alternative redemption deadline.

9.3.3 Method of payment. Licensees must award all pull tab prizes in cash, by check, or in merchandise, except that winning pull tab tickets may be exchanged for an equivalent amount in new tickets of the same deal and serial number.

(a) All progressive prizes in excess of $500 must be paid by check.

(b) A progressive prize need not be paid immediately upon the determination of a winner if:

(1) The prize amount exceeds $500;

(2) The prize amount is paid in full within 48 hours after the winner was declared;

(3) The prize amount is paid at a location and in a manner acceptable to the winner; and

(4) The winner is presented with a voucher or promissory note for the full amount of the jackpot prize before the end of the occasion during which the winner was declared. The licensee's games manager and one other member of the licensee must sign the voucher or promissory note. The note must state the following:

(i) The name and license number of the licensee;

(ii) The date, time, and location of verification of the winning card;

(iii) In the case of progressive bingo and progressive pull tabs, the manufacturer's serial and identification numbers of the winning card;

(iv) The identification of the winner of the prize; and

(v) The date, time, place and manner in which the check for the prize amount will be delivered to the winner.

8 CCR 1505-2-9

Colorado Register, Vol 37, No. 14. July 25, 2014, effective 8/14/2014

40 CR 17, September 10, 2017, effective 9/30/2017

44 CR 19, October 10, 2021, effective 11/1/2021

46 CR 05, March 10, 2023, effective 3/31/2023

47 CR 18, September 25, 2024, effective 10/15/2024