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Belmont Bonanza for Youbet

10 June 2003

WOODLAND HILLS, California --(Press Release) -- Youbet.com, Inc. (Nasdaq:UBET), the leading online live event and wagering company, scored its own Triple Crown on Saturday when it again set company records for handle and unique bettors at the Belmont.

Total Youbet handle for the Belmont race day was $2,133,399, about a 100% increase over last year and the second largest handle for a single race day in the company's history. Youbet's total handle for the Belmont racing week was $6,600,521, an increase of about 80% over the same period last year and the second highest weekly handle in the company's history, just behind the weekly handle for this year's Kentucky Derby. There were 7,371 unique Youbet bettors on race day on Saturday and their average wager was about 40% higher than the similar period in 2002.

Youbet's total weekly handle for this year's Triple Crown was $19,770,342 versus $10,752,835 in 2002, about an 84% increase. Total daily handle for the Triple Crown race days in 2003 was $6,620,665 versus $3,197,644 in 2002.

"We continue to prove the reliability and capability of the Youbet system. We have also proven our ability to increase the average handle per fan. This is not only a benefit to Youbet, but to the entire racing industry," said Charles F. Champion, President and Chief Executive Officer of Youbet.

Youbet.com is the largest Internet provider of thoroughbred, quarter horse and harness horse racing content in the United States. Members have the ability to watch and, in most states, the ability to wager on virtually 100% of all major domestic horse racing content via its exclusive closed-loop network. Youbet.com members enjoy features that include commingled track pools, live audio/video, up-to-the minute track information, real-time wagering information, phone wagering and value-added handicapping products.

Youbet.com is a patent and content licensee and maintains strategic relationships with TVG, an indirect subsidiary of Gemstar-TV Guide International, Inc. (Nasdaq:GMST) and MEC Pennsylvania Racing, part of Magna Entertainment Corp. (Nasdaq:MECA - News). Youbet.com is an official online wagering platform of Churchill Downs Incorporated and the Kentucky Derby. Youbet.com operates Youbet.com TotalAccess(TM), an Oregon-based hub for the acceptance and placement of wagers.

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