HB56 - Fantasy Contests Act Summary

• Establishes the Fantasy Contests Act to regulate fantasy and simulated contests in Alabama with defined terms including entry fees, fantasy contest operators, and fantasy contest players.

• Requires fantasy contest operators to implement consumer protection procedures including age verification (18+), segregation of player funds, and prevention of employee participation in contests they operate.

• Mandates fantasy contest operators conduct annual independent audits consistent with generally accepted accounting standards and submit audit results to the Attorney General.

• Prohibits operators from sharing confidential player information until publicly available, restricts actual game participants from entering related fantasy contests, and allows players to self-restrict from contests.

• Exempts fantasy contests from criminal gambling penalties under Alabama Code Title 13A, Chapter 12, Article 2, with civil penalties of up to $1,000 per violation enforceable by the Attorney General.