‘Cashless wagering system’ means a method of wagering and accounting:

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1.  In which the validity and value of a wagering instrument or wagering credits are determined, monitored and retained by a computer that maintains a record of each transaction involving the wagering instrument or wagering credits, exclusive of the game or gaming device on which wagers are being made. The term includes computerized systems which facilitate electronic transfers of money directly to or from a game or gaming device; or

2.  Used in a race book or sports pool in which the validity and value of a wagering instrument or wagering credits are determined, monitored and retained on a computer that maintains a record of each transaction involving the wagering instrument or wagering credits.