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How much does a video lottery operator surety bond cost in South Dakota?
Lottery retailers in South Dakota must post a surety bond prior to conducting business within the state. Applicants should verify their required bond amount with the state prior to bonding.
These bonds are subject to underwriting consideration, so the price you’ll pay for your South Dakota surety bond depends not only on your required bond amount but also on a review of your personal credit report. Request your free bond quote now!
Purchasing the surety bond you need is fast and easy when you work with the experts at SuretyBonds.com! Call 1 (800) 308-4358 or submit a bond request now to get started.
Why do I need this bond?
By posting a South Dakota lottery bond, principals (video lottery retailers) pledge to conduct business in accordance with state laws and regulations, including all amendments pertaining to video lottery operations, collection and remittance of income to the state.
If the principal fails to comply with these terms, the bond protects the state from financial loss up to the full penal sum of the bond. The principal must reimburse the surety for any damages paid out.
We can provide your free bond quote within 1 business day of submitting your application. Apply now!
What’s the fine print?
Uniform lottery bonds in South Dakota remain in full force and effect until canceled. The surety can cancel the bond by giving written notice of cancellation via certified mail to both the principal and the South Dakota Lottery in Pierre, South Dakota. Cancellation becomes effective 60 days after the receipt of said notice.
How to become a lottery retailer in South Dakota
There are 4 types of video lottery licenses: an establishment license, an operator license, a distributor license and a manufacturer license.
Operator applicants must do the following:
- complete the Application for Video Lottery form
- complete an Individual History Form for each individual listed in section 8 of the application form
- complete Investigation Authorization forms for each individual
- pay the $50 application fee
- complete the Additional Operator Information form
- complete the Authorization for Electronic Funds Transfer form
- post a surety bond in the proper amount