Indiana sports wagering operator bonds.
From $100.
Every Indiana sports wagering operator must keep a reserve, sized by Indiana Gaming Commission rule 68 IAC 27-3-1 at the greater of $500,000 or its outstanding wagering liability. The rule lets a bond hold that reserve in place of cash or a letter of credit. Premiums cost 2% of the bond amount, $100 minimum.
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How much does an Indiana sports wagering operator bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
A bond frees the cash or bank line your reserve would otherwise tie up, so it should never be the slow part of keeping your book compliant. Here is the whole process:
Apply online
Your company details, the bond amount you are posting toward the reserve, and the effective date, plus a one-time consent to a soft credit pull. That is the application.
Approved and issued
The soft pull never affects your score, and the bond issues the moment you pay. Six- and seven-figure reserve amounts may get a brief underwriter review before issue.
Lodge it with the Commission
Your executed bond and power of attorney arrive by email. The rule does not spell out how a reserve bond is lodged, so confirm the procedure and bond wording with the Gaming Commission’s Sports Wagering and Paid Fantasy Sports Division.
What it is and who needs it.
What the sports wagering reserve bond actually guarantees
Indiana legalized sports wagering in 2019 through Indiana Code article 4-38, and the Indiana Gaming Commission regulates it. Wagering is conducted by a certificate holder — a licensed casino owner, operating agent or racino permit holder that the Commission authorizes to take sports wagers “independently or through a vendor” (IC 4-38-2-4) — or by a vendor the certificate holder contracts with to run wagering at the facility or through mobile devices (IC 4-38-2-23), which must hold its own vendor’s license (IC 4-38-6-1). The Commission’s rule calls either one a sports wagering operator (68 IAC 27-1-2).
An Indiana sports wagering operator may be a casino, racino or satellite facility holding a certificate of authority, or a licensed vendor running its book.
Every operator must keep a reserve behind the wagers it has taken. Under 68 IAC 27-3-1, the reserve may be held as cash, cash equivalents, payment processor reserves or receivables, an irrevocable letter of credit, a bond, or any combination, and it must equal at least the greater of a $500,000 minimum reserve or the amount needed to cover the operator’s outstanding sports wagering liability. The bond is optional: it is one permitted form of the reserve, and it can carry all of it or sit alongside cash or a letter of credit.
The bond is a guarantee behind the operator’s wagering obligations, not insurance for the operator. If a valid claim is paid, the operator repays the surety. You never pay the bond amount itself — only the premium, 2% of the bond amount with a $100 minimum. The rule requires the reserve to be maintained for as long as you conduct sports wagering, so keep the bond in force and renew it each term; if your outstanding liability grows past what the bond and your other reserve assets cover, the reserve has to grow with it.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The term is set on the carrier’s application; the premium covers the period shown there.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
Approved and issued. The soft pull never affects your score, and the bond issues the moment you pay. Six- and seven-figure reserve amounts may get a brief underwriter review before issue.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual underwriting fields — your organization type and state of formation, the bond amount you are posting toward the reserve, the effective date, and a one-time consent to a soft credit pull. The pull never affects your score, and your price, from a $100 minimum, is set at application. Free until issued.
Start the application →Common questions.
Other Indiana bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Free the cash in your reserve.
2% of the bond amount, $100 minimum, soft pull only. Enter the amount you are bonding and lodge it with the Gaming Commission the same day. Free until issued.