The board may adopt rules, policies and procedures for the conduct of lottery games in general, including, but not limited to the following matters:
A. the type of games to be conducted, which may include any type of lottery game not prohibited by the New Mexico Lottery Act;
B. the percentage of lottery revenues that shall be returned to the public in the form of lottery prizes;
C. the method and location of selecting or validating winning tickets;
D. the manner and time of payment of prizes, which may include lump-sum payments or installments over a period of years;
E. the manner of payments of prizes to the holders of winning tickets;
F. the frequency of games and drawings or selection of winning tickets;
G. the method to be used in selling tickets, which may include the use of electronic or mechanical devices;
H. the price of each ticket and the number and size of prizes;
I. the conduct of drawings and determination of winners of lottery games;
J. requirements governing lottery tickets, including, but not limited to, requirements that all instant-win tickets be recyclable; and
K. any and all other matters necessary, desirable or convenient toward ensuring the efficient and effective operation of lottery games.