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Iceland - reservations for tours in advance?

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Leaving in late July for 4 days in Reykjavik. We will be renting a car and doing the golden circle on one day. Spending our arrival day mostly in the city. Another day I'd like to do whale watching and/or fishing and/or horseback riding. I was wondering if it is necessary to make reservations in advance or if we are likely to be able to find space day of or day before. I hesitate because I am concerned about making reservations for a very expensive tour and then having the weather go foul. W/o reservations we would have more flexibility, but possibly run the risk of not getting on a tour.

Any recommendations on the book on advance vs. book on arrival dilemma?

Recommendations for tours would be most welcome also - I have an 8 and 12 year old who will be with me. Many of the more exciting tours (which are of course the ones they most want to do) require kids to be at least 14.

Thank you!

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