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Belmont Stakes Handle Up 32% at Youbet

WOODLAND HILLS, California -- (PRESS RELEASE) -- Youbet.com, Inc. (Nasdaq:UBET), the leading online live event and wagering company, said today that its customers wagered a record $1.4 million on the race card featuring the 2004 Belmont Stakes. The total was 32% higher than the amount wagered on last year's Belmont Park card, setting a new race day record.

The company also reported that it was able to serve a record number of concurrent users on Belmont race day. The site experienced a dramatic 43% increase in concurrent customer utilization at peak periods on the afternoon of the race.

The heavy utilization was spurred in part by a 185% increase in service sign-ups on race day. Sign ups jumped to 1,840 this year from 645 in 2003. In addition, the number of Youbet customers who wagered on the Belmont card this year was 25% higher than in 2003.

Youbet's handle for all tracks on its network rose 18% from the total wagered on the same day in 2003.

"There is no question that the public infatuation with Smarty Jones' quest for the Triple Crown this year added substantially to our performance," said Youbet CEO Charles F. Champion. "The three-race series produced another tremendous spike in new demand for the online racing experience that Youbet provides.

"We think the user-friendliness of our site, the depth of our content offerings and the marketing skills we've developed over the last two years will help us convert many first-time users into year-round racing -- and wagering -- enthusiasts," Champion said.

Youbet.com is the largest Internet provider of thoroughbred, quarter horse and harness horse racing content in the United States, as measured by handle data published by the Oregon Racing Commission. Members have the ability to watch and, in most states, the ability to wager on the widest variety of horse racing content available via Youbet.com's website.

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 an official online wagering platform of Churchill Downs Incorporated and the Kentucky Derby. Youbet.com operates TotalAccess(SM), an Oregon-based hub for the acceptance and placement of wagers. More information on Youbet.com can be found at www.Youbet.com.

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