Acclaimed Racing and Sports Book Veteran Joins Youbet.com.

Michael L. Knapp to Lead New Product Integration and Planning

WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ:UBET) announced today that award winning horse racing and sports book industry veteran Michael L. Knapp has been named the company's Director of New Product Integration. Knapp, who has been serving as General Manager of Surfside Race Place at Del Mar Fairgrounds, the largest off-track wagering facility in the U.S., assumes his new duties immediately.

Knapp will take charge of operational planning to introduce and coordinate Youbet's game product offerings on platforms that serve customers in the U.S. and overseas. He will report to Victor Gallo, Youbet's head of business development.

Youbet CEO Charles F. Champion said that Knapp's integration experience was a key factor in naming him to the newly created product integration and planning post.

"Our existing and new technologies provide platforms for a highly diverse set of customer services, including games and contests," Champion said. "As game creation begins to advance in our company, we recognized a need for a manager to lead rapid deployment across segments of our network and integrate both the delivery and marketing. There is no one in the sports wagering industry with a better record than Mike in managing tech-based products and driving them to market."

While serving as GM of Surfside, Knapp also acted as an executive consultant for racing operations, marketing and customer development for the Del Mar Thoroughbred Club and the California Authority of Racing Fairs. In his consulting capacity, he helped evaluate and recommend design and operational changes for the California Fairgrounds network of 23 off-track simulcast wagering facilities resulting in $20 million in capital improvements projects. From 2001 to 2005, Knapp also was Chairman and/or Vice Chairman for the Authority.

During his years with Surfside Race Place at Del Mar, the Fairgrounds was awarded first place seven consecutive years (2000-2006) from the Western Fairs Association for Best Facility Marketing.

For nearly a decade (1988-1997), Knapp worked as the Director of Race and Sports Book Operations, Keno and Poker at Harvey's Casino/Resorts in Lake Tahoe, NV. As the executive in charge, he led the development and integration of business plans with unique marketing strategies focused on daily and weekly special events. He also spearheaded the creation of innovative, revenue producing product presentations and customer support services.

During his tenure at Harvey's, Knapp taught casino marketing at the University of Nevada, Reno, where he earned a gaming certificate, and served as a legislative consultant on wagering and racing. He holds a mathematics and science associates degree from Lake Tahoe Community College.

About Youbet

Youbet.com is a diversified provider of technology and pari-mutuel horse racing content for consumers through Internet and telephone platforms and is a leading supplier of totalizator systems, terminals and other pari-mutuel wagering services and systems to the pari-mutuel industry through its United Tote subsidiary. Youbet.com's International Racing Group subsidiary is the only pari-mutuel rebate provider to be licensed by a U.S. racing regulatory jurisdiction.

Through its website, Youbet offers members 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's Players Trust(SM) revolutionized advanced deposit wagering by placing player deposits in the custody of a major U.S. financial institution. The Youbet Advantage(SM) Player Rewards Program is the only player incentive program of its kind in the U.S. pari-mutuel market; and Youbet's play-for-points racing education website -- www.Youbet.net -- is helping to attract new fans to racing. Youbet.com is an official online wagering platform of Churchill Downs Incorporated and the Kentucky Derby and is the exclusive provider of horse racing content for CBS SportsLine.com. More information on Youbet.com can be found at www.youbet.com.