Knapp Named General Manager of Youbet's IRG Phone Wagering Subsidiary.

WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ:UBET) announced today that Michael L. Knapp has been named General Manager of its International Racing Group (IRG) subsidiary. Knapp, who replaces company co-founder Louis J. Tavano, assumes his duties effective today reporting to Youbet COO Gary Sproule.

IRG is a phone-based advanced deposit wagering company that offers volume discounts to high end wagering customers. Located in Curacao, it is the only offshore pari-mutuel wagering company to be licensed by a U.S. racing regulatory jurisdiction.

Knapp, an award winning horse racing and sports book industry veteran, joined Youbet in November of 2006 as Director of New Product Integration. For the previous seven years he was the CHRB-licensed General Manager of Surfside Race Place at Del Mar Fairgrounds, the largest off-track wagering facility in the U.S. He has also held a key employee license from the Nevada Gaming Control Board.

"Mike is ideally suited to lead IRG at this point in its history," said Youbet CEO Charles F. Champion. "He has the kind of managerial, technology and compliance background that the company needs to advance its positioning in the evolving off-shore pari-mutuel segment. He can help us chart new directions for the company and his presence on the management team should give track customers an added a level of confidence in the integrity of our operations."

Under his leadership, Surfside Race Place was awarded first place seven consecutive years (2000-2006) for Best Facility Marketing by the Western Fairs Association. 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. From 2001 to 2005, Knapp also was Chairman and/or Vice Chairman for the Authority.

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.com, Inc.

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.

Youbet.com's website offers members the ability to watch and, in most states, wager on the widest variety of horse racing content available worldwide. Through this platform, 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(TM) 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 the exclusive provider of horse racing content for CBS SportsLine.com. More information on the company can be found at www.youbet.com.