AZ SB1438

Amends Arizona Revised Statutes section 13-3301 to add a definition of "fantasy competitions" to the state's gambling statutes.

Defines fantasy competitions as fantasy or simulated sports games where participants form teams not based on current actual team rosters, with prizes established in advance and not determined by number of participants or fees paid.

Requires that winning outcomes be determined predominantly by accumulated statistical results from multiple real-world sporting events and that wins not be based solely on a single team's performance or a single athlete's individual performance.

Exempts fantasy competitions from the definition of "gambling" in Arizona law, clarifying they are not subject to gambling regulations when they meet the specified conditions.

Makes technical grammar corrections throughout the statute, changing "which" to "that" and updating dollar amount formatting.