How much does a lottery bond cost in Virginia?
The Commonwealth of Virginia requires lottery retailers to post $20,000 surety bonds, which can be issued for as little as $200. However, these bonds are subject to underwriting, meaning the price an applicants pays for his or her lottery bond will be based on a soft credit review.
|Bond Type||Bond Amount||Cost*|
|$20,000 Lottery Bond||$20,000||Starts at $200||Apply Now|
Ready to get bonded? Call 1 (800) 308-4358 or submit an easy online bond request. One of our expert surety specialists will contact you right away to walk you through our application process.
Why do I need this bond?
Virginia lottery bonds are put in place to ensure that principals (lottery retailers) pay all sums due to the state for lottery tickets and proceeds and comply with all statutes, rules and regulations pertaining to the license.
If the principal violates the terms of his or her bond agreement and the state or an individual is harmed as a result, the surety will cover damages up to the full penal sum of the bond. The principal must reimburse the surety for all damages paid out.
Get your free, no-obligation bond quote within 1 business day of applying when you work with SuretyBonds.com.
What’s the fine print?
The effective date of the bond will be listed on the Virginia lottery retailer surety bond form. The bond is continuous for 1 year unless continued year to year by the issuance of a continuation certificate by the surety.
The surety can cancel the bond at any time by giving written notice of cancellation to the Director of the State Lottery Department 30 days prior to the effective termination date.
How to become a lottery retailer in Virginia
To become a licensed lottery retailer in Virginia, applicants must do the following:
- submit a completed licensing application packet, including the application fee
- submit to a background check by the Lottery
- provide proof of a surety bond
For more licensing information, visit the Additional Resources section of this page.
Don’t let getting a surety bond delay the licensing process to become a lottery professional in Virginia. Get started now!
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