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Do gift cards and gift certificates qualify as a cash prize?

Answer #835 -- ( Published 02/29/2012 09:54 AM | Updated 07/12/2017 10:40 AM )

Do gift cards and gift certificates qualify as a cash prize?

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.

Note:  For further information regarding cash prizes, refer to Charitable Games Regulations, Section 435.160.

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