Gambling of any form on College premises or at College sponsored activities is prohibited. Gambling means risking any money, credit, deposit or other thing of value for gain contingent in whole or in part upon chance, the operation of a gambling device or the happening or outcome of an event, but does not include: contests of skill, speed, strength or endurance in which awards are made only to entrants; raffles that are operated by officially recognized student organizations in the pursuit of charitable purposes; or promotional contests and drawings conducted incidentally to college operations, if prizes are awarded without consideration being charged to participants.