Recent Bill A-3556/2086, has allowed an increase in prizes:

"The bill increases the maximum prize in any single game from $250 to $1,000 and the aggregate of all prizes that may be offered on a single occasion from $1,000 to $3,000. It also authorizes the commission, begginning one year after the bill's effective date. to change those amounts by regulation." For the full bill - Click Here

Also included in this Bill is the legalization of electronic Bingo. The rules and guidelines are still being drafted, but you can find more information by calling Continental State Fair Bingo.