Prizes shall be limited as follows: Any benefit performance, other than a raffle, charitable gaming event, or bingo, may include the award of cash prizes of not more than One Thousand Dollars ($1,000.00) per prize or the award of merchandise. Any raffle may include the award of cash prizes totaling up to Five Thousand Dollars ($5,000.00) and the award of merchandise in any amount or the merchandise cash equivalent. No bingo operation may include the award of cash prizes or merchandise in an amount or value greater than One Thousand Dollars ($1,000.00) per prize and such prizes shall not exceed a total amount or value of Eight Thousand Dollars ($8,000.00) per day of operation. Any charitable gaming event may include the award of cash prizes of not more than One Thousand Dollars ($1,000.00) per prize. The limitation on prizes for each licensed or permitted activity shall be determined individually, regardless of the number of activities which are operated at the same time or at the same location.