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Youbet to Carry All Magna Track Horse Races in 2005

23 December 2004

WOODLAND HILLS, California -- (PRESS RELEASE) -- Youbet.com, Inc. (NASDAQ:UBET), a leading online wagering company and the largest provider of Internet horse racing content in the United States, said today that it has signed an agreement with Magna Entertainment Corporation (MEC) that gives Youbet customers live video and wagering access to all of the horse races staged at Magna tracks in the next year. The agreement means that Youbet will once again carry content from the ten tracks Magna owns and operates outside of California.

"This agreement is great news for both Youbet customers and shareholders," said Youbet CEO Charles F. Champion. "Negotiating acceptable terms was paramount to Youbet's agreement to offer the totality of Magna's content so that our customer base can once again watch and wager on virtually every important horse race that the sport has to offer in 2005, including all three legs of the Triple Crown.

"We are especially excited about adding the 2005 Preakness to our offering," Champion said. "The Triple Crown is the high point of racing each year, and we are eager to be involved in marketing this major sports event to race fans.

"The quality of our customer offering always gets a boost when we can add superior race content," Champion concluded. "With all the Magna tracks once again in our portfolio of racing venues, there is no question that we continue to have one of the best track lists of any online wagering company."

With the new pact, Youbet will continue to offer races from Santa Anita Park and Golden Gate Fields in California and will now also carry races from Gulfstream Park in Miami, Laurel Park and Pimlico Race Course in Maryland and seven other Magna venues. 2005 Racing Schedule

Youbet's 2005 season in California will officially launch on December 26, 2004 when it carries the traditional opening of MEC's Santa Anita Park in Arcadia. Races from Golden Gate Fields, which is in the midst of its winter meeting in Albany, California, can be accessed at the Youbet site now through January 30, 2005. In Maryland, races from Pimlico Race Course, home of the Preakness Stakes, will be available to Youbet subscribers beginning January 1, 2005 and from Laurel Park at the end of January. Gulfstream Park content will commence with the opening of its winter meeting on January 3, 2005 in Florida.

Portland Meadows in Oregon, Flamboro Downs in Ontario, and the Meadows in Pennsylvania will be added to Youbet's content offering in January 2005 as well. Lone Star Park in Texas, Thistledown in Ohio, Great Lakes Downs in Michigan and Remington Park in Oklahoma will be available during the year as their seasons commence. MEC is North America's number one owner and operator of horse race tracks, based on revenues, and one of the world's leading suppliers, via simulcasting, of live racing content to the growing account wagering market.

Youbet.com is the largest Internet provider of thoroughbred, quarter horse and harness racing content in the United States as measured by handle data published by the Oregon Racing Commission. Members can watch and, in most states, 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, race replays, simultaneous multi-race viewing 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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