N.J. Admin. Code § 13:47-18.7

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:47-18.7 - Imitation money; sales; restrictions; amounts

(a) Imitation money shall be obtained from the equipment provider or shall be provided by the armchair race holder.

(b) The value of imitation money shall be marked on each script or shall be color coded.

(c) The minimum exchange rate shall be $2.00 of imitation money for every $1.00 of cash or money.

(d) Imitation money shall be:

1. Issued in full dollar amounts;

2. Distributed at the time and place of the event at which it is to be used;

3. Sold by a banker at a banker's window;

4. Used to place wagers or pay winnings or redeemed for raffle tickets or merchandise prizes; and

5. Dated with the date of the armchair race event and bear the name of the organization holding the event.

(e) Imitation money shall not be:

1. Converted into cash or money; or

2. Removed from the room or area where the event is held.

N.J. Admin. Code § 13:47-18.7