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How much does a lottery bond cost in Washington?
Washington’s Lottery requires lottery retailers to post $3,500 surety bonds to legally work within the state.
These bonds are subject to underwriting, which means the price you’ll pay for your bond depends on a review of your personal credit report. Bad credit? No problem! SuretyBonds.com offers an exclusive bad credit bonding program to help 99% of applicants qualify for the bonds they need quickly and easily.
Call 1 (800) 308-4358, or click here, to connect with our team of surety bond professionals. We can provide your free surety bond quote within one business day of submitting your application.
Why do I need this bond?
By posting a Washington lottery bond, principals (lottery retailers) pledge to comply with all provisions of RCW 67.70.040(l)(i), WAC 315-06-035, and WAC 315-30-070. Specifically, these bonds ensure that principals handle all revenue earned from lottery ticket sales appropriately and in accordance with the laws of the state of Washington, provide all payments owed to the Lottery for lottery products, display responsible gaming informational materials at their retail location, maintain funds to pay lottery prizes in amounts less than $600, and notify the authorized vendor and the lottery district sales representative to report any malfunctioning equipment as soon as possible and more.
If the principal fails to adhere to these terms, the bond protects harmed parties from financial loss up to the full amount of the bond.
What’s the fine print?
Lottery bonds in Washington are continuous until canceled. The surety can cancel the bond by sending written notice of cancellation to the principal and Washington’s Lottery stating the date of termination, which must be at least 30 days after the notice is received.
How to become a lottery retailer in Washington
The process to become a licensed lottery retailer in Washington varies depending on the type of business entity (sole proprietorship, limited partnership, corporation, LLC, etc.). All applicants must submit the following forms:
- Substitute W-9 and/or EFT Authorization form
- Accessibility Affidavit
- Personal/Criminal History form
- Business License Application
- Location Addendum to Master Location