Virginia Lottery Retailer or Commission Bond
Virginia Lottery Retailer or Commission Bond Information
A Lottery Bond (also called a Lotto Bond) is a requirement for retailers that sell lottery tickets. The surety bond generally guarantees that the establishment operating the lottery machines will not tamper with, misuse or manipulate the machines and related equipment in any way. Additionally, required taxes must be paid to the applicable state authority. All lottery sales on the premise must be conducted in accordance with state lottery commission guidelines and other applicable state laws. Surety bond amounts are determined by the state commission and typically vary based on lottery sales volume.
How Much Does a Lottery Bond Cost in Virginia?
Bonds up to $100,000
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Skilled Games Owners & Distributors
This bond requirement not longer exists because Skilled Games because illegal in Virginia on July 1, 2021.
A Skilled Games Owner / Distributor Bond was required per VA HB881 which went into effect on July 1, 2020, for owners and distributors of skill games in the Commonwealth of Virginia. Owners and distributors are required to post a surety bond of $50,000 to $1,000,000 in relation to the number of skill game machines operated by the distributor or owner as required by 3 VAC 5-80-100.
Although skill game machines are scheduled to be banned in Virginia in July 2021, owners and distributors are required to post the surety bond for the 14-month period from July 1, 2020 to September 1, 2021.
The bond protects The Commonwealth from failure to pay the monthly $1,200 taxes that are owed per unit.
Skilled Game Bond amounts (bond penalties) are based on the number of units per VA 3 VAC 5-80-100:
|Number of Units||Bond Amount|