A Game Promotion Surety Bond protects Florida & New York citizens by guaranting the prizes offered in a game promotion are actually awarded to the proper winners. Game promotion bonds are also called a sales promotion surety bond, game of chance surety bond or sweepstakes surety bond. If a game promotion is open to Florida or New York citizens, one of those citizens wins and the promotion sponsor fails to award the prizes as indicated in the official rules then that state can use the bond to financially protect its citizen.
These two states are currently the only ones requiring game promotion surety bonds. If the total amount of all prizes is greater than $5,000 then Florida and New York require the promotion sponsor to post a surety bond (or establish a trust account) equal to the total prize value. The specific rules for filing a game promotion are here: Florida, New York. Game promotion surety bonds are non-renewable bonds and only needed until all state requirements have been fulfilled after the game has ended.
Alpha Surety has written thousands of game promotion surety bonds at bond amounts well into the eight figures. Our multiple surety markets have a healthy appetite for game promotion bonds in any amount at very competitive rates. Whether you are a promotion sponsor, promotion agency or industry attorney we can have a game promotion bond approved and on your doorstep the next day, which is important since the filing of these bonds with both states is time sensitive.