Wash. Admin. Code § 230-14-250 - Recording carry-over jackpots on a cash basis
Current through Register Vol. 21-18, September 15, 2021
Statutory Authority: RCW 9.46.070. 07-17-058 (Order 614), § 230-14-250, filed 8/10/07, effective 1/1/08.
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Recording carry-over jackpots on a cash basis.
(1) Operators must record carry-over jackpots on a cash basis. "Cash basis" means operators do not record carry-over jackpot contributions until the prize is awarded.
(2) However, punch board and pull-tab licensees who also hold a bingo license with gross gambling receipts over six hundred fifty thousand dollars in their previous license year may record carry-over jackpot contributions on their monthly records if they:
(a) Record contribution amounts, up to the jackpot maximum, as prizes paid on the monthly records; and
(b) When the jackpot is awarded, record only amounts not previously accrued as prizes paid; and
(c) Play no more than five carry-over jackpot series at once; and
(d) Maintain a proper audit trail and adequate security over the funds if the licensee does not deposit the contributions with the net receipts.
[Statutory Authority: RCW 9.46.070. WSR 18-05-029, § 230-14-250, filed 2/9/18, effective 7/1/18; WSR 07-17-058 (Order 614), § 230-14-250, filed 8/10/07, effective 1/1/08.]