If you plan to operate a Game of Chance in Florida, you will be required to obtain a Florida Game of Chance Surety Bond.
Typically, the Florida Games of Chance Surety Bond will be based upon the value of the prize being offered.
A Games of Chance Surety Bond ensures that those who purchase tickets for and win games of chance in the Florida will be compensated for their entire winnings when the seller of the winning ticket cannot or will not pay. The amount of the surety bond must equal the total amount of the prizes offered.
Bonds Express offers Florida Games of Chance Surety Bonds with a 99% approval rate. You will be required to provide both business and personal financial statements, in addition to a signed application in order obtain a Florida Games of Chance Surety Bond. For large bond amounts. there will be other prerequisites that will need to be considered for bond approval.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. A Florida Games of Chance Surety Bond holds you accountable for your business decisions.
By possessing a Florida Games of Chance Surety Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.