Below is an email sent to Minnesota residents on February 8, 2021:
Dear Minnesota resident:
Minnesota is a state, among several, that requires separate account wagering licensing in order to legally accept online wagers on horse racing. HorseTourneys and HorsePlayers operate under the Minnesota account wagering license of Xpressbet, with whom we maintain an official affiliate partnership.
All account wagering providers operating in the state of Minnesota must pay source market fees back to the state and its racing associations. While the state racing commission had waived these fees for our organization last year, they have elected to reinstate them beginning in 2021. Therefore, we must pay source market fees on activity from Minnesota residents moving forward.
Our current takeout structure does not allow us to absorb this additional source market fee. To account for these fees, effective now, a 1.5% fee will be added to all DEPOSITS of Minnesota residents at either HorseTourneys or HorsePlayers. The individual tournament entry fees will remain the same. This fee will be separately noted at the time of your deposit confirmation.
While we regret that Minnesota residents are again affected, please understand that these fees are obligatory for us to operate in compliance in your state.
If you have any questions, please feel free to reach out to us at support@horsetourneys.com.
Sincerely,
McKay Smith
President
HorseTourneys.com
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