(a) In charitable gaming, there shall be no limit on the amount a person may bet and no limit on the amount a person may win, except that no person may lose more than $150 in a single day.
(b) Notwithstanding subsection (a) of this section, in a members-only game, no prize may be offered or given in excess of the sum of $500 in any single game. Only a member who furnishes proof of membership in the organization or parent organization sponsoring the game may participate in a members-only game.