Bonfield Named Youbet VP of Advertising and Strategic Media; New Position to Focus on Developing New Revenue Streams.

WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ:UBET) has added to the responsibilities of Eastern Region General Manager David B. Bonfield by naming the former newspaper advertising executive and publisher Vice President of Advertising and Strategic Media Alliances.

In his added role, Bonfield has been charged with exposing potential advertisers and media partners to the innovative, dynamic sales environment provided by Youbet's exclusive closed loop horse racing network. Youbet, which is the largest online provider of thoroughbred, harness and quarter horse racing content in the U.S., boasts audiences of predominantly young, affluent visitors who collectively bet in excess of $300 million a year at the Company's advanced deposit wagering site.

"There are hundreds of thousands of players in our database who are highly desirable potential customers for the right advertisers and media outlets," said Youbet CEO Charles F. Champion in making the announcement of Bonfield's appointment.

"Dave's understanding of the new media paradigm and his success in developing revenue streams in these channels for major media outlets make him the ideal person to carry out advertising and media programs."

Before Bonfield joined Youbet as Eastern GM in 2003, he was employed by the Journal Register Company in a variety of capacities, including corporate vice president of advertising (1989-1995) and publisher of the Trentonian in Trenton, NJ (1998-2003). He was executive vice president of sales and marketing for Fidelity Investments Community Newspaper Company from 1995-1998.

Previously, Bonfield held director level advertising and marketing positions with the Los Angeles Herald Examiner, owned by Hearst Newspapers, and the Los Angeles Daily News when it was owned by The Tribune Company. He began his business career with the Don Rey Media Group's Nevada Appeal in Carson City, Nevada, shortly after he graduated from Brigham Young University with a bachelor of science degree in advertising.

Bonfield's appointment is effective immediately.

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 vast majority of all major domestic horse racing content via Youbet.com's 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 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. More information on Youbet can be found at www.Youbet.com.

Forward-Looking Statements

This press release contains certain forward-looking statements. Statements containing expressions such as "may," "will," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," potential," "continue" or "pursue" or the negative or other variations thereof or comparable terminology used in Youbet's press releases and in its reports filed with the Securities and Exchange Commission are intended to identify forward-looking statements. These forward-looking statements, which are included in accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause Youbet's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although Youbet believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations. From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the Securities and Exchange Commission. Such factors include, without limitation, the following: the timely development and market acceptance of new products and technologies; our ability to secure financing on terms acceptable to us; our ability to control operating expenses; increased competition in the advance deposit wagering business; a decline in the public acceptance of wagering; wagering ceasing to be approved in jurisdictions where Youbet currently operates; the limitation, conditioning or suspension of any of Youbet's licenses; increases in or new taxes imposed on wagering revenues; loss or retirement of key executives; and a decline in the general economy. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Youbet does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.