Illinois Administrative Code
Title 11 - ALCOHOL, HORSE RACING, LOTTERY, AND VIDEO GAMING
Part 1770 - LOTTERY (GENERAL)
Section 1770.100 - Bonding of Agents

Universal Citation: 11 IL Admin Code ยง 1770.100
Current through Register Vol. 48, No. 38, September 20, 2024

The Department may require a surety bond, letter of credit, or security deposit in the form of a cashier's check or money order from any Agent, at the Agent's expense, to avoid any monetary loss to the State because of the Agent's activities in the sale of Lottery game tickets. The surety bond, letter of credit or security deposit shall not exceed twice the average lottery ticket sales of the retailer for the period within which the Agent is required to remit lottery funds to the Department. For the first 90 days of sales of a new lottery retailer, the amount of the bond may not exceed twice the average estimated lottery ticket sales for the period within which the Agent is required to remit lottery funds to the Department. Most lottery bonds range between $5,000 and $15,000. Standard market rates range between 1%-4% of the total amount or otherwise between $100 and $400. The Department may require a financial statement revealing the financial condition of any person or organization seeking to become, or continue as, an Agent.

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