RCI's Powell Named Youbet VP-Public Affairs and Central Region GM.

WOODLAND HILLS, Calif. -- 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 Lonny T. Powell will join the company as Vice President-Public Affairs and General Manager of the Central Region. Powell, who is currently President and CEO of the Association of Racing Commissioners International (RCI), begins his new assignment on February 1, 2005.

Powell has been with RCI since 1999. Under his leadership, RCI widened its efforts to uphold and protect the integrity of pari-mutuel sports in the U.S. and abroad. In so doing, he helped to elevate RCI's voice in support of uniform pari-mutuel regulation.

"Lonny will play a pivotal role in our Company's strategic growth," said Youbet.com CEO Charles F. Champion. "His credentials in the field of pari-mutuel sports legislation will bring an unprecedented level of expertise and professionalism to our dealings with the public entities charged with regulating our industry. Likewise, his operating experience gives us product development and distribution support in our key Central Region."

Prior to joining RCI, Powell was President and CEO of race tracks at Santa Anita, Turf Paradise and Multnomah Greyhound Park. He held key operating positions at Longacres Park and Magna Entertainment and acted as Director of the University of Arizona Race Track Industry Program. He has also served in advisory capacities on regulatory affairs and on racino development with the NTRA and Multimedia Games, Inc., respectively.

"I am very excited about the opportunity to work with an emerging leader in our industry," said Powell. "Youbet has undergone a remarkable business transformation. I am looking forward to working with them to refine their public affairs programs and to produce and distribute products to satisfy customer demand in the rapidly evolving market for advanced deposit wagering."

A former member of the NTRA Board of Directors and Vice Chairman of the AQHA Racing Council, Powell has been active in numerous efforts to benefit the industry. He was Treasurer and Director of the Racing Medication & Testing Consortium and founding President of the Blue Grass Farms Chaplaincy. He has been a member of the AQHA Racing Committee, the American Horse Council's Government Affairs Council, the University of Arizona RTIP Advisory Council, the NTRA Wagering Systems & Security Task Force, the Wagering Integrity & Technology Work Group and the Jockey Insurance Task Force.

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.

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.