Any retailer in Ohio looking to become a Lottery Sales Agent is required to be licensed with the Ohio Lottery Commission and must obtain a Lottery Sales Retailer Bond.
Jet provides the Lottery Sales Retailer Bond to act as a financial guarantee for the Commission if the retailer violates their license contract and/or any State policies resulting in fiscal damages.
Jet Insurance Company operates as an affordable, direct surety provider! We don't work with middlemen agents or brokers who complicate the bonding process and add their commissions onto the price you pay.
The Ohio Lottery Commission Director is in charge of approving your bond limit which is based on lottery sales?tickets are issued on consignment, so the total value of however many tickets you request for retail will be equal to the required bond limit. The mandatory minimum bond limit is $15,000.
At Jet, rates for the Lottery Sales Retailer Bond are determined by the bond limit and a soft credit check of the applicant. You will only pay a small percentage of the bond limit. Our prices for the minimum $15,000 bond start at just $225 annually. Refer to the price chart below for additional examples of bond limits and Jet’s preferred credit tier rates.
The Jet team has created a simplified application process and affordable pricing for the Lottery Sales Retailer Bond. Just complete your surety bond submission and receive an approved rate shortly after. It's as easy as that!
The Ohio Lottery Commission allows retailers to be issued lottery tickets on consignment, meaning retailers only pay for the tickets after they have sold them. This process poses some risk for the Commission, as the retailer could potentially sell the ticket and keep the full profit without ever paying back the Commission. The Lottery Sales Retailer Bond is required to alleviate this risk by acting as a financial guarantee for the Commission if such a licensing violation occurs. The Commission utilizes a third-party guarantor (Jet) to make certain compensation is immediately available to remedy these instances.
Our application for the Lottery Sales Retailer Bond can be done completely from the comfort of your home! The online application will ask for your required bond limit given by the Lottery Commission Director, your contact information, and your social security number (this is only a soft credit check, so it won't affect your score). Once your bond application has been submitted for review, a Jet underwriter will send you an approved rate via email that is available for online purchase. Simply fulfill payment and you will receive an emailed copy of your bond and receipt right away.
The Ohio Lottery Commission allows the signed copy of your Lottery Sales Retailer Bond to be filed electronically through their Retailer eApplication System. This can be done with any additional paperwork for your Lottery Sales Agent application.
Jet will send you a copy of your bond via email right after you have completed the purchase. If you have any questions or need further information, please refer to the Commission’s mailing address and contact information below.
Ohio Lottery Commission
615 W. Superior Ave.
Cleveland, OH 44113
Yes, you may cancel your Ohio Lottery Sales Retailer Bond at any time! Just send Jet a cancellation request at [email protected], and we will get started on the termination process. A written notice will be sent to the Lottery Commission, and once received, you will be released of liability of the bond within 30 days.
Jet will review your bond for any unused premium, and if there are available funds a reimbursement will be issued to you as soon as the 30-day liability period has officially ended.
The Ohio Lottery Sales Retailer Bond will expire exactly one year after the effective date. If you would like to continue to act as a Lottery Sales Agent for another year, the renewal of your license is required and a surety bond continuation certificate will need to be filed with the Lottery Commission?Jet will take care of the continuation certificate for you!
As for renewals with Jet, an invoice for your bond’s renewal will be sent to you before your official bond term expiration date. If you would like to renew your Lottery Sales Retailer Bond, just fulfill payment and we will take care of the rest.
Ohio retailers who are licensed as a Lottery Sales Agent are expected to comply with Ohio Revised Code Chapter 3770 and the Lottery Commission’s “Retailer Policies” as it pertains to the regulations of their license. Failure to comply may result in a mandatory hearing held by the Commission to discuss penalties such as large fines, suspension or revocation of your license, and/or a claim on your Ohio Lottery Sales Retailer Bond.
The Director of the Commission may file a claim on your bond if any of the following license violations are committed:
Your bond may also cover any damages sustained to Commission equipment issued to you for lottery ticket retailer use and expenses endured by the Commission during their investigation.
It is in your best interest to act honestly and comply with all license regulations. An omission to do so could lead to a loss of your license, large fines, and an expensive bond claim.
If a claim is filed against your Lottery Sales Retailer Bond by the Ohio Lottery Commission, contact Jet right away! Our team at Jet will do its best to gather all available information to defend you against false claims. However, if the claim is proven to be true, Jet is obligated per the bond form to make payment in the claim amount, not to exceed the bond limit.
Since your actions led to the claim payout, you are ultimately responsible for paying back Jet for the full claim amount. Failure to do so may lead to difficulties obtaining license bonds in the future. Retailers who have committed license violations will not be allowed to apply for a Lottery Sales Agent license with the Ohio Lottery Commission again.