SB270 - Fantasy Contests Act Summary

• Establishes the Fantasy Contests Act to regulate fantasy sports operators offering contests with entry fees for cash prizes in Alabama.

• Requires fantasy contest operators to register with the Office of the Attorney General and pay tiered registration fees ranging from $1,000 to $75,000 based on gross revenues from the preceding 12 months.

• Mandates operators implement consumer protection procedures including age verification (19+), segregation of player funds, prevention of employee participation, prohibition on collegiate/high school/youth contests, and disclosure of all prizes in advance.

• Requires annual independent audits by third-party certified public accountants to verify compliance with the act's requirements.

• Establishes civil penalties of up to $1,000 per violation (maximum $5,000 per transaction) for violations and exempts fantasy contests from Alabama's gambling prohibition.