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American Wagering Forms New Division

2 June 2005

LAS VEGAS –- (PRESS RELEASE) -- American Wagering, Inc. (OTC Bulletin Board: BETM) (the "Company") today announced that it has formed a new division, AWI Gaming, Inc. ("AWIG"). The purpose of AWIG is to initially explore opportunities in the rural Nevada hotel and casino market, however any well-regulated casino market world-wide is of interest providing that the property meets the Company's key criteria of local demographics, projected Return on Invested Capital, total capital expenditures, location, size of project, etc. AWIG's ultimate goal is to become the market leader in operating smaller hotel/casino properties serving the needs of the local residents.

AWIG will be headed by Bruce Dewing. Mr. Dewing has been a director of the Company since July 2003 and has over thirty years of progressive experience in hotel/casino senior level management positions. His most recent position was President and Chief Operating Officer of the Holder Hospitality Group, Inc. where he oversaw the acquisition and daily operations of eleven casinos, an AM radio station, a statewide (Nevada) slot route, several event companies and over 1,500 executives and employees. Mr. Dewing is a founding member of the Air Service Task Force for the Washoe County (Nevada) Airport Authority, a member of the Advisory Board to the Washoe Airport Authority, a Board member of the Reno Air Race Association, and a Board member of the Nevada Hotel and Lodging Association.

Victor Salerno, the Company's CEO and President, said, "Through our Leroy's locations, American Wagering has already established a significant presence in the rural Nevada market, thereby allowing the Company to effectively spread risks and increase opportunities. The addition of Bruce Dewing to our management team provides proven experience with an efficient operating strategy and a disciplined approach to growth in order to take advantage of these new opportunities as they arise. Adding hotel/casino operations to the Company's portfolio will strengthen and diversify cash flows, grow the Company and increase shareholder value in the long term."

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