N.Y. Comp. Codes R. & Regs. tit. 9 § 4622.22

Current through Register Vol. 46, No. 43, October 23, 2024

Section 4622.22 - Operation of bank

(a) Except in the case of merchandise wheels, raffles, coin boards, merchandise boards, seal cards and bell jars, the licensed authorized organization shall, at the start of each type of game of chance, provide a bank consisting of cash or chips in an amount not exceeding $400 when the licensed authorized organization conducts five single types of games of chance, or $500 when the licensed authorized organization conducts less than five single types of games of chance during any one license period. To each bank shall be added all the players' losses, and from each bank shall be deducted all players' winnings. When the bank for any one type of game is exhausted, the conduct of said type of game shall cease and terminate. Where more than one location (table or booth) is used for the conduct of a single type of game of chance, the starting bank shall be divided among the different locations. Within the operation of any single type of game of chance, the bank of any one location may be used to supplement the bank of any other location of the same type of single game of chance.

(b) In the case of merchandise wheels, the licensed authorized organization may for each wheel award merchandise the total value of which shall not exceed $10,000 for each merchandise wheel. In the case of bell jars, coin boards, merchandise boards and seal cards, the licensed authorized organization may, for each deal, award prizes the total value of which shall not exceed $3,000 for each deal.

(c) The maximum amount of the series of prizes to be awarded for each single type of game of chance shall be specified in the application for a license (form GC-2) and the license (form GC-5), which shall be conspicuously displayed.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 4622.22