Lottery bond cost
The Tennessee lottery retailer surety bond is a credit based bond, which means the amount you’ll pay for your bond depends on your personal credit report and is subject to underwriting.
The bond amount is determined by the Tennessee Education Lottery Corporation and varies depending on the average sales of lottery tickets in a lottery retailer’s district. The bond amount will never exceed a district’s lottery ticket expense for two billing periods.
Why this bond
Tennessee lottery retailer surety bonds assure the Tennessee Education Lottery Corporation (TELC) that the principal (lottery retailer) will:
- accurately account for all lottery tickets and revenue
- maintain sufficient sales
- only sell tickets for the price established by the TELC
- faithfully follow and comply with all of the rules and statutes dictated in the Tennessee Education Lottery Implementation Law
- not sell lottery tickets to any underage person
- pay all appropriate state taxes and fees
Lottery retailer bond details
A Tennessee lottery retailer surety bond is valid for one year after the effective date. Continuation certificates can be issued if the lottery retailer wishes to continue selling lottery tickets.
If the bond is to be canceled, the surety must give the state at least 30 days notice.
Apply for your surety bond
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