It’s always a heady feeling to hit a 50-1 winner. Can you imaging hitting two in one day…over the course of just 12 plays? 

Andy Asaro can.

While many of our very best players—including Dan Piazza, who earned both of his NHC entries right here at HorseTourneys—were out in Vegas doing their thing, Eric “Skeet” Boyd was doing HIS thing…playing in and winning our featured cash games.

Perhaps unfortunately for the other 600 or so competitors in this weekend’s NHC, Dave “Gambling Actuary” Nichols is coming in hot to Vegas.

Jay Johns, the 2022 NHC Tour champion, had an excellent start to the featured-tourney week. The recently retired president of IHOP also had a rooty tooty fresh n’ fruity finish to it.

I’m not sure when the last time was that we saw so many players reel off grand-prize heists on consecutive days. At the top of this list last weekend was David Nelson.

Saturday seemed like one of those days where you just needed to remain patient—because if you missed the longshot that just came in, another one was going to hit shortly.

Five of the day’s 12 contest winners paid $20.00 or more in the win hole—and since this was a Pick & Pray weekend around here, it meant that if you were hot, you could have an extra nice day. Just ask Thomas McClenin.

Recently, a number of players have emailed us surprised to have received a 1099-K form from PayPal. The funds detailed mostly include funds received from withdrawals from HorseTourneys or other gaming entities that offer PayPal or Venmo as withdrawal options. In case you are not aware, Venmo is owned by PayPal, thus they are one and the same in terms of reporting. Please understand that these forms are NOT generated by HorseTourneys. We send our own 1099-MISC forms to those players that qualify for one.

All third-party payment providers such as PayPal and Venmo are required to file 1099-K forms with the IRS if funds sent to individuals exceeds certain thresholds. Once over $20,000, this threshold was reduced to $5,000 for 2024 and will reduce to $2,500 in 2025, and again down to $600 in 2026. That the thresholds are now much lower is the primary reason players are now receiving these forms.

All funds sent to individuals from businesses (like Bet Twice Consulting, LLC, the legal name for HorseTourneys) are classified as “goods and services.” For several years now, PayPal has not permitted businesses to send funds via “friends and family”, thus, any funds sent by a business to individuals now apply toward that 1099-K threshold.

While we cannot offer tax advice, if you do receive a 1099-K from PayPal, in most cases, taxes don’t need to actually be paid on this 1099-K. We suggest that you consult with a tax advisor on how to address your particular situation.

Moving forward, to avoid this being an issue for you this year and beyond, we highly recommend that you primarily use bank transfer (ACH) for withdrawals. Payments sent directly to player bank accounts are not subject to this kind of third-party payment reporting.

More information on this can be found on PayPal’s website.

Please contact us if you have any further questions.

McKay Smith
President
HorseTourneys.com

It’s obviously very early still in 2025, but key pushes in the HorseTourneys Tour standings can absolutely come at any point in the year. Take, for example, the exploits this past week of Darryl Lacy.

Last year, Eric “Skeet” Boyd set a HorseTourneys record by capturing nine featured weekend cash tourneys. The remarkable showing of excellence and consistency led to him being crowned 2024 HorseTourneys Tour Champion.

Last weekend, though, Boyd enjoyed his biggest victory yet, taking home a total of $144,519 for topping a field of 286 entrants in the two-day Flo-Cal Faceoff—an event that required contestants to make mythical $2.00 win and place selections on each race of the Saturday and Sunday cards from Gulfstream Park and Santa Anita Park.

Last year, HorseTourneys unveiled a four-race series of its top events, the Flo-Cal Faceoff in January, the Players Championship in April, the Spa & Surf Showdown in August and the brand new Pick & Pray® Classic in November. Known as the HorseTourneys Grand Slam, the series awarded bonuses to those who, based on a points formula, performed best throughout the four marquee tourneys.

This year, there’s another addition.

HorseTourneys is introducing a fifth competition to the series: the $250,000 Guaranteed New York, New York Challenge. The resulting five-contest sequence will be known, collectively, as the HorseTourneys Champions Series.