The Traxler-McCauley-Law-Bowman Bingo Act regulates bingo and games of chance managed by private licensees. A Michigan lottery bond must be filed with the Commissioner of the State Lottery along with other application requirement pursuant to MI §432 (Act 382). Bingo, millionaire parties, charity games, raffles and numeral games fall under the definition of regulated activities.
The Michigan lottery bond (or bingo bond) is required by §432.111b(4). "The commissioner shall require suppliers authorized to sell charity game tickets, numeral game tickets, or both to post a performance bond of not less than $50,000.00 and not greater than $1,000,000.00." The surety bond must be issued by a surety company licensed to conduct business in Michigan and written in a penalty set the Commissioner's decision on what constitutes sufficient financial assurance. The bond is a strict compliance obligation however it contains a provision guaranteeing payment of a percentage of ticket sales to the Bureau (state lottery).
Per the Bureau, "An applicant must satisfy the requirements of the Lottery Act, its Rules, and directives to qualify for licensing." The regulator offers a helpful portal for license candidates which offers the forms and instructions on the submission process. Questions and submissions may be directed to:
101 E. Hillsdale, Box 30023
Lansing, MI 48909
Michigan surety bond leader, Surety One, Inc. is a specialist in the bonding needs of commercial establishments that sell lotto tickets, scratch-offs, bingo cards and multi-tickets. We offer same-day issue of surety and fidelity bonds required by gaming operations. Questions about this or another surety bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat about your Michigan lottery bond requirement.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.