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How much does a lottery bond cost in North Carolina?
The North Carolina Education Lottery requires lottery retailers to be bonded before they can legally work within the state. The required bond amount varies and the cost of the bond is subject to underwriting consideration, meaning it is based on a review of the applicant’s credit. Highly qualified applicants may be approved for as little as 1% of the total bond amount.
SuretyBonds.com makes the bonding process fast, easy and accurate. Request your free surety bond quote now!
If you’re ready to get bonded, give us a call at 1 (800) 308-4358, or submit an online bond request form.
Why are lottery retailers required to be bonded?
North Carolina lottery bonds ensure that principals (lottery retailers) remit payments for the sale of lottery tickets as specified in the Retailer Contract. Specifically, this bond guarantees the compensation of the state and consumers if an applicant commits fraud or other damaging acts, such as falsifying records of sale or failing to pay requisite dues on sales.
Get your free, no-obligation bond quote within 1 business day of applying when you work with SuretyBonds.com. Apply now!
How to become a lottery retailer in North Carolina
To become a licensed lottery retailer in North Carolina, applicants must meet the requirements established in the North Education Lottery Policies and Procedures Manual. Failure to comply with North Carolina requirements may result in an applicant’s license rejection.
- At least 21 years of age and registered to do business in North Carolina
- May not engage exclusively in the business of selling lottery tickets or operating devices solely for entertainment
- File and submit payment of all applicable taxes to the state on time, excluding items under formal appeal
- Undergo and pass background investigations, including criminal background review, tax filing status review and financial credit review
- May not reside in the same household as a member, employee, or director of the Commission
- Open a dedicated bank account designate as “In Trust for the North Carolina Education Lottery” strictly used for the deposit of lottery net proceeds
Specifics on becoming a lottery retailer, such as the application process, instructions and fees, can be found in the Retailer Application Packet.
What are the responsibilities of a lottery retailer?
All lottery retailers in North Carolina must adhere to the following NCEL rules and regulations:
- Retailer must display a certificate of authority to sell lottery tickets
- All prizes under $600 must be paid out on-location
- Retailer must complete an online retailer responsible gaming training course
For complete licensing information, visit the Additional Resources section of this page.
How long are lottery bonds effective?
North Carolina lottery surety bonds can run for 1, 2 or 3-year terms. Each term option has a specific bond form. The surety contact information must appear at the bottom of every bond form.