Jeff Franklin Named President of Youbet Online Services.

Industry veteran brings product development and player services success to new role

WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ:UBET) has named Jeff Franklin, 53, the company's long-time product development and player services leader, to the newly created position of President of Youbet Online Services, the company's online pari-mutuel wagering unit. The announcement of Franklin's promotion was made by Youbet CEO Charles F. Champion.

In his new position, Franklin will have day-to-day responsibility for all aspects of Youbet's online business including regional operations, track relations, product development, player development, marketing and administration. His appointment is effective immediately.

"With 30 years in this business, no one in our industry has a deeper understanding of the online wagering channel and its ability to serve the needs of customers and track partners than Jeff Franklin," said Champion. "During the 10 years he has headed our Product Development and Player Services teams, Jeff has driven the evolution of our online programs and played a key role in establishing Youbet as the leading online wagering provider in the horse racing business."

Franklin joined Youbet in 1995 with 20 years of experience in the racing industry as an owner and horsemen, a jockey's agent, and an accomplished manager of national racing stables. His industry perspective helped a then fledgling Youbet make its first concerted move toward the creation of the industry-leading online product that it offers today. In recent years, he and his team have been architects of various marketing and wagering solutions for Youbet's growing customer base including dual race viewing; WagerPadPro(TM), which streamlines the wagering process; and Youbet Advantage(SM), the company's successful wager incentive plan launched earlier this year.

From 1982 to 1995, Franklin was a jockey's agent and stable manager, winning numerous riding titles for clients including Gary Stevens, Pat Valenzuela, Jose Santos, and others. He and Stevens teamed to win the Kentucky Derby in 1988 with Winning Colors, and added four Breeder's Cup victories thereafter. He also acted as Manager for Allen Paulson's Brookside Farms.

Franklin attended the University of Southern California where he studied petroleum engineering and production before embarking on a career with independent oil production companies.

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.