Florida's Department of Agriculture and Consumer Services requires game operators whose promotions or contests totaling more than $5,000 to register and obtain a Game Promotion Surety Bond or statement of trust.
Applicants can apply for registration with the Florida Department of Agriculture and Consumer Services.
Applicants must complete the registration application and pay the registration fee.
Game promoters or operators must obtain the required surety bond. The bond amount varies and is based on prize amounts for contests, games of chance, sweepstakes and gift enterprises. It also includes games from other states that are open to Florida residents and have prizes valued at more than $5,000. The Department will determine the bond amount that will be required.
A Surety Bond protects the consumer and ensures compensation if the game operator is unable to award the prices offered in the promotion.
In lieu of a surety bond, for prizes that are valued at $5,000 or more, a trust account will need to be established. The account must be verified by a financial institution official.
The surety bond requirement is waived for game operators who have been in the business over five years.
The premium that you pay for a Game Promotion Surety Bond is dependent on credit and the bond amount required.
Contact our Surety Bond Specialists today at:
Hours: 8:00-5:00 CST, Monday through Friday