Arkansas Gambling Business Bond

The Arkansas Racing Commission (Commission) adopted regulations for casinos that require them to be licensed. Casinos making periodic payments for prizes that patrons win must have an approved funding source for making these payments, which includes maintaining a reserve.

Surety bonds or other security will be accepted to meet this requirement. The reserve must be for at least an amount that is calculated as set forth in the regulations based on the prize amounts owed to patrons. The bond secures the periodic payments or a single cash payment for the remaining periodic payments should the licensee default on paying the scheduled periodic payments for any reason.

Casinos that offer wagering accounts to patrons must maintain a reserve in the form of a surety bond or other security for be not less than $25,000 or the sum of all patrons’ funds held in the wagering accounts, whichever is greater. The bond or other security is for the benefit and protection of patrons’ funds held in wagering accounts. For casinos operating keno games, the Commission may require the licensee to maintain a reserve in the form of a bond, cash equivalent, or a combination of these in an amount that the Commission would determine

Get a Free Quote Instantly Online

If you’re ready to get a free surety bond quote to meet this new surety bond requirement, you can simply apply online. We are the nation’s largest volume bond producer, and provide the lowest rates in the industry.

 


Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.

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