HB354 Summary

• Establishes the Fantasy Contests Act to regulate fantasy contest operators in Alabama and exempt fantasy contests from gambling prohibitions.

• Requires fantasy contest operators to register with the Office of the Attorney General, with initial registration fees of $5,000 (fewer than 5,000 active players) or $85,000 (5,000 or more active players), plus annual renewal fees and 6% regulatory assessment on gross revenues.

• Mandates operators implement consumer protection procedures including age verification (19+), prevention of employee participation, segregation of player funds, prohibition of contests based on collegiate/high school/youth athletic events, and annual independent audits by certified public accountants.

• Operators must disclose contest prizes in advance, prevent sharing of confidential information affecting gameplay, allow players to self-restrict from contests, and limit entry numbers per player.

• Bill becomes effective immediately upon passage and Governor's approval.