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American Wagering Announces Nasdaq Decision

4 August 2000

LAS VEGAS, Aug. 4 (Press Release) -- American Wagering, Inc. (Nasdaq: BETM - news) announced today that they received notification from the Nasdaq Stock Market that the Nasdaq Listing Qualifications Panel determined to delist the Company's securities from The Nasdaq Stock Market effective with the open of business August 4, 2000.

The Panel said that the Company's securities may be immediately eligible to trade on the OTC Bulletin Board. In the notification, Nasdaq said that the Company may also request that the Nasdaq Listing and Hearing Review Council review this decision. The Company will immediately review this decision with its corporate counsel to determine if they will request a review of the decision.

The Company had no longer met the minimum requirements for Nasdaq National Market Listing. In a hearing with the Nasdaq Stock Market, the Company had requested that the trading of the shares be moved to the Nasdaq Small Cap Market.

The Company was very surprised to receive this notification since, as of the filing of the Company's last 10Q with the SEC, the Net Tangible Assets of the Company were well above the maintenance requirements set by Nasdaq.

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