Lottery retailer bond cost
The Ohio Lottery Commission requires lottery retailers to post surety bonds in the amount of $15,000. Because these bonds are subject to underwriting, the amount applicants pay varies. Applicants with excellent financial credentials could qualify to pay just 1% of the required bond amount, or just $150! The best way to find out exactly how much you’ll pay is to apply for a free surety bond quote now.
Why this bond
Ohio lottery retailer surety bonds are put in place to ensure that principals (lottery retailers) comply with all laws, rules, policies and regulations governing the license.
If the retailer fails to adhere to these terms, the bond protects harmed parties up to the full penal sum of the bond. The principal must repay the surety for all damages paid out.
Lottery retailer bond details
Lottery sales retailer bonds in Ohio remain in full force and effect until otherwise terminated. The surety can cancel the bond at any time by providing written notice to the Lottery Commission. Cancellation becomes effective 30 days after the commission receives the notice.
The bond is conditioned so that both lottery customers and the commission can file claims against the retailer in the case of unpaid dues of any kind. Regardless of the number of years the bond is renewed for, no claim can exceed the penal sum of $15,000.
Become a lottery retail agent
To become licensed as a lottery retail agent in Ohio, applicants must fill out the application form supplied by the commission, which includes the following information:
- name of corporation and D/B/A, if applicable
- street address and office telephone for business
- liquor permit number, if applicable
- mailing address, if different from the place of business
- full name, title, address, social security number and other identifying information of all principals and officers
- store hours
- notarized signature
- completed Lottery Electronic Fund Transfer (EFT) system form
Criminal background check performed at one of the 5 Ohio Lottery locations:
- Cleveland – (216) 787-3311
- Columbus – (800) 589-6445
- Cincinnati – (800) 589-9882
- Toledo – (800) 589-6442
- Canton – (800) 589-6467
The application process takes anywhere from 4 to 6 weeks.Take the first step toward getting licensed by purchasing the surety bond you need.
Apply for your surety bond
Get a FREE Ohio Lottery Sales Retailer Bond Quote Today! Click here to begin