The Director may order any combative sports or combative sports entertainment participant or manager who has received a purse of cash, or any other article of value, in an amount in excess of $1,000 to forfeit the same to the Division for any serious violation of this chapter or Division regulations. The Division shall establish by regulation guidelines for determining what violations of this chapter or of the Division's regulations are considered serious violations requiring a participant or manager to forfeit of a purse.