(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.