A Guide to Lottery Bonds
We are legally licensed to issue lottery surety bonds in every state. Whether you work in Pennsylvania, Ohio, North Carolina or Florida, we can bond you!
In most states, individuals who sell lottery tickets and/or use lottery equipment for commercial purposes must post a surety bond. This type of surety bond is used to protect the state in the event that a lottery seller mishandles lottery funds or tampers with lottery equipment. At the same time, lottery bonds protect consumers by ensuring the lottery seller adheres to industry regulations, which ultimately keeps the lottery a safe and fair activity for everyone.
State Specific Costs
Lottery bond costs and requirements vary greatly as the bond amounts and regulations surrounding each license are established on a state level. Select your state below for more information about lottery bonds in your area or call 888.610.4474 to speak with a surety expert.
- North Carolina
- South Dakota
Pay a Low Rate for Your Lottery Bond
Our surety specialists are brokers who will shop your bond with multiple underwriters to ensure you get the best rate available. Your exact premium will vary depending on how much coverage your state requires combined with your credit score. Most states require lottery bonds in amounts ranging from $5,000 to $15,000. If you have a credit score above 650, you will qualify for the standard market and can expect to pay 1-5% of the bond amount, which is typically between $100 and $750.
Bad Credit? No Problem!
We have a history of helping individuals with low credit scores get bonded for the best rates available, and lottery bonds are no exception. Because we work with underwriters who specialize in nonstandard (bad credit) bonds, we can approve 99% of those who apply for lottery bond. This means we can still bond applicants who have credit scores below 650.
Enjoy Fast, Easy & Accurate Bonding
Efficient bonding is our #1 goal. Once you’ve submitted your application, we’ll get to work on finding the best premium available for your lottery bond. Your account manager will contact you with a free, no-obligation price quote within 1 business day of your application. Your bond will be issued once payment is received, and you’ll receive a copy of your bond immediately via email. Your original bond form will arrive in the mail via your preferred shipping preferences.
Learn More About Lottery Bonds
So how do lottery bonds work, anyway? Every bond insurance contract that’s issued functions as a legally binding contract that brings three parties together:
- The obligee is the government agency requiring an individual or business to be bonded
- The principal is the individual or business that gets bonded to guarantee some sort of performance
- The surety is the insurance company that underwrites the bond, thereby backing the principal’s ability to meet the bond’s terms
Although specific consequences vary by state, it remains constant that a claim can be filed on the bond if the lottery seller misappropriates any funds going to the lottery or tampers with lottery machinery. If the claim is validated, the surety will be responsible for paying reparation up to the full face value of the bond. The surety will then require the principal to reimburse it for any claims paid.
Apply for your surety bond
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