Transaction Fee:
Payment processors charge significant fees to merchants to process transactions. We are charged a flat amount per deposit, plus a percentage of the amount that you deposit.
In order to maintain our low takeout rates, HorseTourneys must re-coup a small portion of these merchant fees. At this time, a 75 cent Transaction Fee is added to debit card, credit card and PayPal deposits.
How to Avoid this Fee: There are no transaction fees for ACH (bank transfer) deposits. Frequent depositors that prefer to use debit, credit or PayPal may also consolidate deposits into larger amounts to reduce the total number of deposits.
Low Deposit Fee:
A Low Deposit Fee of 50 cents is added to player deposits when the amount of the deposit is less than $20.00 (U.S.). We incur deposit fees on all player deposits, including both a flat fee per transaction as well as an overall percentage of the amount players deposit. These fees are among our highest operating expenses.
When players deposit very low amounts (less than $20), the percentage of fees we pay on those amounts is proportionally too high, causing HorseTourneys to lose money on that play in many circumstances.
How to Avoid this Fee: By making deposits of at least $20.00 (U.S.), this fee is avoided.
State Fee:
In order for HorseTourneys to maintain legal compliance, some states require source market fees. This fee is typically a percentage paid back to the source market of the activity (typically, the racing associations and/or racing commissions of your local market), and is due on all entry fees played at HorseTourneys.
As a result, a state fee (a small, percentage-based fee that varies on a state-by-state basis depending on the source-market-fee percentage we are charged by a given state) must be added to the entry fees purchased by residents of those states. Unfortunately, state fees are obligatory and cannot be avoided if you reside in a state that requires such source-market fees.
Re-Deposit Fees:
Re-Deposits are defined as deposits made by players of a same of lesser amount of a withdrawal made within the previous 24 hours. Players are allowed up to five (5) instances of Re-Deposits within a 30-day rolling period. Any Re-Deposits above this amount will be incur a 5 percent fee to cover transaction fees associated with those deposits.
How to Avoid this Fee: Players can avoid this fee by simply not making a deposit equal to or less than a previous withdrawal within 24 hours. Entry fees that are intended to be played within the next 24 hours should be played from an existing account balance.