Florida Lottery Bond Overview
- Purpose: To guarantee proper handling and remittance of lottery funds
- Who Needs It: Certain lottery retailers in Florida
- Regulating Body: The Florida Lottery
- Bond Amount: $6,000—$100,000
- Minimum Price: $200 for a one-year term
What Is a Florida Lottery Bond?
A Florida lottery bond protects the state from financial loss if you fail to properly handle funds or comply with state law.
The Florida Lottery may require you to file a surety bond. This ensures you turn over all lottery money owed to the state.
Bond Coverage Requirements for Florida Lottery Retailers
During the application process, the Florida Lottery will review your business to determine if you need a surety bond. This might be due to sales volume, financial history or the level of credit risk involved.
Your maximum bond amount cannot be more than twice your average lottery sales during the reporting period. If you’re a new retailer, your bond amount will likely be based on estimated sales.
Note: The bond requirement doesn’t apply to prepaid ticket arrangements.
How Much Do Lottery Bonds Cost in Florida?
Florida lottery bonds start at just $200 for the minimum $6,000 coverage. Your exact rate will depend on your bond amount and personal credit score.
Apply for a free quote below.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Florida Lottery Bond Work?
A Florida lottery bond creates a legally binding contract between these three parties.
| Bond Party | Description |
|---|---|
| Principal | The Florida Lottery requiring the bond |
| Obligee | The Florida Lottery requiring the bond |
| Surety | The issuing surety provider |
This bond guarantees you’ll comply with Florida Statutes Title IV, Chapter 24. The following acts are prohibited under state law:
- Selling tickets to minors
- Operating as a retailer whose business is exclusively lottery ticket sales
- Extending credit or loans to customers to buy lottery tickets
- Selling altered or fraudulent tickets
- Failing to properly account for or remit lottery funds
If you violate these terms, harmed parties can file claims against your bond. The surety will cover the initial payment of any valid claims. However, it’s your responsibility to refund the surety in full.
How Do I Get a Lottery Bond in Florida?
You can apply for a free bond quote in just minutes using the form on this page. Once you enter your information, we’ll run a quick credit check to determine your personalized price. You’ll then receive an invoice within one business day.
How Fast Can I Get My Bond?
We’ll email your official bond form right after payment. Be sure to sign and file it with the Florida Lottery.
Can I Get Bonded With Bad Credit?
Yes, you may still be able to get bonded with bad credit. However, poor credit will likely increase your premium rate. Visit our Surety Bond Cost FAQ page to learn more.
How Do I Renew My Lottery Bond?
Florida lottery bonds expire annually. If you purchased your bond from us, we’ll send you renewal reminders starting 90 days before expiration. Simply pay the attached invoice to extend your bond for another year.
How Do I Update My Bond Information?
If you need to change any information on your bond, email [email protected]. In most cases, we can issue a bond rider to easily update your form. Larger changes may require a new bond form.
How to Become a Lottery Retailer in Florida
In Florida, lottery retailers must be established as an existing business, such as:
- Convenience stores
- Gas stations
- Grocery stores
- Liquor stores
- Other approved retail locations
You cannot only sell lottery tickets. If your business is not already in operation, you’ll need to register it with the Florida Department of State and the Florida Department of Revenue.
Then, you’re ready to start the application process.
- Contact your nearest Lottery District Office to schedule a site investigation.
- Fill out the application form.
- Complete a background check, which may include fingerprinting.
After reviewing your business, the Florida Lottery may determine that you need a surety bond.
The cost to become a retailer includes the following fees:
- Initial Application Fee: $100
- Additional Location Fee: $25
How Much Do Florida Lottery Retailers Make?
Florida lottery retailers earn revenue through commissions on each ticket sold, with additional bonuses for selling winning tickets. The base commission is 5.75%, which includes draw and scratch-off tickets. Retailers can make up to $100,000 in bonuses on jackpot-winning tickets.
