S.D. Admin. R. 20:18:14.01:01

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:18:14.01:01 - Definitions

Terms used in this chapter mean:

(1) "Game tournament," an organized poker, blackjack, craps or roulette game approved by the executive secretary in which a player pays a "buy-in" and receives a prescribed number of chips;

(2) "Slot tournament," an organized event, sponsored by one or more licensees, that permits a player to either purchase or be awarded the opportunity to engage in competitive play against other players;

(3) "Tournament buy-in," an advertised amount paid by each player to participate in a game tournament which entitles the player to receive a prescribed number of chips. The tournament buy-in amount is included in the tournament prize pool except for that portion that may be retained as a tournament entry fee;

(4) "Tournament entry fee," a percentage of the tournament buy-in that may be retained by the licensee as adjusted gross proceeds. The maximum amount that may be retained by the licensee is limited pursuant to § 20:18:14.01:06;

(5) "Tournament prize pool," is a prize pool comprised of the tournament buy-in and any other items or amounts given by the licensee and awarded to the participants in the game or slot tournament.

S.D. Admin. R. 20:18:14.01:01

19 SDR 21, effective 8/20/1992; 19 SDR 177, effective 5/27/1993; 34 SDR 200 effective 1/29/2008; 38 SDR 116, effective 1/10/2012; 41 SDR218, effective 7/1/2015.

General Authority: SDCL 42-7B-7, 42-7B-11(13).

Law Implemented: SDCL 42-7B-1, 42-7B-11(13).