Depositing Electronic Game Income
End of the month
After the close of business on the last day of each month, organizations are required to separate the electronic game starting cash bank amount from the total amount of cash in the electronic game cash drawer. The amount in excess of the starting cash bank amount must be placed in a safe and deposited within four business days.
- For example, if the site's starting cash bank amount for electronic games was $2,000, and the total amount in the electronic game cash drawer at the close of business on July 31 was $3,118, the organization must place $1,118 ($3,118 - $2,000 = $1,118) in a separate envelope or pouch and store that money in the organization's safe. Within four business days of August 1, the $1,118 must be deposited into the organization's gambling account.
- This procedure will allow you to easily track the electronic game cash received but not deposited for each month. Be sure that the amount reported on your LG100F Lawful Gambling Fund Reconciliation, line 6, is accurate and matches the amount in your safe pending deposit.
During the month
Any time during the month that your cumulative "electronic net" (the dollar value difference between the credits purchased and redeemed at the site) reaches or exceeds $2,000, you are required to make an electronic game deposit within four business days to bring the cash bank back to the original starting cash bank amount.
- For example, if the site's starting cash bank for electronics was $2,000, and the total amount in the electronic game cash drawer at the close of business on July 15, was $4,138, the organization must initiate a deposit of $2,138 ($4,138 - $2,000 = $2,138). These funds must be deposited into the organization's gambling account within four business days of July 15.
- Remember that regardless of the number of deposits made during the month, you'll always make a deposit (within four business days of the first of the month) of whatever amount is in the electronic game cash drawer less the starting cash bank amount after the close of business on the last day of the month.
