(1) Terms defined in Sections 76-1-101.5 and 76-9-1401 apply to this section.
(2) An actor commits gambling fraud if the actor:
(a) participates in gambling or fringe gambling;
(b) wins or acquires gambling proceeds for the actor or another individual; and
(c) knows the actor has a lesser risk of losing or greater chance of winning than one or more of the other participants, and the risk is not known to all the other participants.
(3) A violation of Subsection (2) is:
(a) a second degree felony if the value of what the actor wins or acquires for the actor or another individual is or exceeds $5,000;
(b) a third degree felony if the value of what the actor wins or acquires for the actor or another individual is or exceeds $1,500 but is less than $5,000;
(c) a class A misdemeanor if the value of what the actor wins or acquires for the actor or another individual is or exceeds $500 but is less than $1,500; or
(d) a class B misdemeanor if the value of what the actor wins or acquires for the actor or another individual is less than $500.