(a) A license holder may issue as a prize or award to the patron of licensed bingo:
(1) merchandise;
(2) money;
(3) a token or ticket redeemable for money or merchandise; or
(4) any other thing of value.
(b) (1) Except as provided under paragraphs (2) and (3) of this subsection, a license holder may not issue for one game a prize or award with a value exceeding $100.
(2) A holder of a Class NG beach license may issue for one game a prize with a value exceeding $100.
(3) A license holder may issue once each day:
(i) a grand prize not exceeding $1,500; and
(ii) a grand prize not exceeding $3,000 in retail value.