SB28 Summary

• Establishes the Fantasy Sports Contests Act to regulate fantasy and simulated sports contests in Alabama, requiring operators to register with the Secretary of State and obtain a $1,000,000 surety bond.

• Requires fantasy sports operators to implement consumer protection procedures including identity verification, age verification (18+), segregation of player funds, prevention of insider participation, and prohibition of unfair advantages through scripts.

• Mandates annual independent audits by third parties and maintenance of player records for five years, with annual reporting to the Secretary of State of all Alabama player accounts and transactions.

• Creates the Fantasy Sports Fund to receive registration and licensing fees, with funds used to cover Secretary of State administration costs and remaining funds reverting to the General Fund annually.

• Exempts fantasy sports contests conducted in compliance with the act from gambling-related criminal penalties and classifies violations as deceptive trade practices.