Sec. 16. (a) The total prizes awarded for one (1) pull tab, punchboard, or tip board game may not exceed fifteen thousand dollars ($15,000).
(b) A single prize awarded:
(1) for one (1) winning ticket in a pull tab, punchboard, or tip board game may not exceed five hundred ninety-nine dollars ($599);
(2) in a game using a seal card may not exceed one thousand dollars ($1,000); and
(3) in a progressive or carryover pull tab game may not exceed fifteen thousand dollars ($15,000).
(c) The selling price for one (1) ticket for a pull tab, punchboard, or tip board game may not exceed five dollars ($5).