Mississippi Lottery Retailer Bond Bond Guide
All businesses selling lottery tickets in Mississippi require this bond. Use this guide to learn about the bonding process!
Bond Overview
- Purpose: To ensure the legal sale of lottery tickets
- Who Needs It: All businesses selling lottery tickets in Mississippi
- Regulating Body: The Mississippi Lottery Corporation – Retailer Contracts Department
- Required Amount: $8,000 for initial licensing
- Premium Rate: $160
What Is a Mississippi Lottery Retailer Bond?
A Mississippi lottery retailer bond guarantees that all businesses selling lottery tickets are acting legally. The most common illegal activities are selling false tickets or to someone who is younger than 21.
What Bond Amount Do I Need?
An initial $8,000 bond is required for any business selling lottery tickets in Mississippi. After your first term, the Mississippi Lottery Corporation (MLC), will send you a formal notification about your adjusted bond amount. This amount will be based on your ticket sales from the previous year.
How Much Do Lottery Retailer Bonds Cost in Mississippi?
Mississippi lottery retailer bonds cost $20 for every $1,000 in coverage. For example, the standard $8,000 bond costs $160. Since these bonds expire on July 31st of each year, your premium will be prorated.
Use the table below to purchase your bond instantly.
For bonds greater than $25,000, a quick underwriting review is required.
How Does a Mississippi Lottery Retailer Bond Work?
A Mississippi lottery retailer bond binds the following three parties in a legal agreement:
- Principal: The business filing the bond
- Obligee: The Mississippi Lottery Corporation requiring the bond
- Surety: The provider issuing the bond
If you, as the principal, violate the bond terms, the surety provider will pay all valid claims up to the total bond amount. Ultimately, it will be up to you to reimburse the surety company.
Who Needs a Lottery Retailer Bond Bond?
This bond is required for any business that wants to sell lottery tickets. The ability to sell lottery tickets is available to any retailer in the state, including:
- Gas stations
- Grocery stores
- Barbershops
- Restaurants
- Sporting goods stores
The required equipment, such as the lottery ticket computer and terminal, are installed by the state and retailers are expected to pay a $20 weekly service fee.
How Do I Get a Lottery Retailer Bond in Mississippi?
SuretyBonds.com provides the fastest and easiest way to get a lottery retailer bond. Use your information to fill out the form above to get your bond in minutes.
After you checkout, SuretyBonds.com will send you your bond documentation via email. Print it out and sign it to include it in your application packet.
Can I Get Bonded With Bad Credit?
Yes. This bond is available for instant purchase with no credit check up to $25,000.
For larger bond coverage, underwriters will determine your personalized bond premium based on credit score.
How Do I Renew My Lottery Retailer Bond?
The Mississippi lottery retailer bond lasts for one year and expires on July 31st. A SuretyBonds.com representative will reach out to you with information during the renewal period. You’ll need to pay the renewal invoice and file a continuation certificate.
How to Become a Lottery Retailer in Mississippi
To legally operate as a lottery retailer in Mississippi, you need to complete the certification process. To be eligible to apply for a retailer contract, you must:
- Be at least 21 years old
- Not exclusively sell lottery tickets
- Not live with a member of the MLC
- Have updated and completed taxes
- Not be a lottery vendor
Once you have determined your eligibility, gather the following materials for your application:
- Business and location information
- Retailer background information
- MLC bank account verification
- Electronic Funds Transfer (EFT) Authorization
- Retailer Contract
- Financial Certification
- W-9 form
- Self-certification of compliance with the ADA
- Department of Revenue Waiver Form
- $8,000 surety bond per location
- $80 application fee
Mail your completed application to Mississippi Lottery Corporation, Retailers Contracts Department at the following address:
1080 River Oaks Drive, Bldg. B-100, P.O. Box 321433, Flowood, MS 39232.
After submitting, you will have 90 days to fix any inaccuracies. Your business will have to undergo a site assessment before your application is approved and the necessary equipment is installed.
