23-5-419. Heads or tails game -- restrictions. (1) Only a nonprofit organization may sponsor and conduct a heads or tails game. Sponsors of a heads or tails game must identify themselves in promotions or announcements.

(2) All entry fees paid to play a heads or tails game must be divided between the sponsor and the winner of the game. At least 50% of the total amount of the entry fees must be paid to the sponsor. No part of the entry fees may be applied to administrative fees.

(3) A heads or tails game may be played at any public premises. If held on the premises of a licensed gambling operator, the activity must be managed by the sponsoring nonprofit organization and all marketing or promotions must clearly identify the sponsor.

(4) The individual tossing the coin and all participants in a heads or tails game must be physically present where the game takes place.