Tracy to Lead United Tote's Game Development Activities in Las Vegas; True and Hasson Appointed to Top Management Positions at United Tote.

WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ:UBET) announced today that Joe Tracy, former CEO of newly acquired United Tote, will spearhead the subsidiary's development of new technology-based games, products and services for commercial and consumer distribution from Las Vegas. United Tote's research and development operations will play a key role in the effort.

With Tracy assuming his new development responsibilities, racing industry veteran Jeff True will become President of United Tote and assume management of its worldwide totalisator business. True will be responsible for driving United Tote sales and revenue as an end-to-end provider of wagering platforms, programs and services with Youbet.com. He is currently the head of Youbet's Western Region.

Joe Hasson, another Youbet veteran, will become Vice President of Operations under True. Hasson, who helped build the operating base for Youbet's mobile platform, will lead the efforts of the United Tote management team to develop operations protocols to support ongoing and integrated sales.

The appointments are effective immediately.

"There is tremendous opportunity in game development and we are fortunate to have the talents of an executive like Joe Tracy to guide our efforts in this important area," said Charles F. Champion, chairman & CEO of Youbet.com, Inc. "He led the resurgence of United Tote's R&D programs and he understands the value that can be gained by leveraging our company's advanced technology platforms. In short, he is uniquely qualified to lead game development efforts across all of the delivery channels in our business.

"With the acquisition of United Tote, Youbet and its subsidiaries offer an array of diversified products that have great potential when applied as end-to-end solutions," Champion continued. "Jeff True and Joe Hasson have successfully built revenue generating programs for Youbet.com. They have the industry experience, relationships and background to hasten the integration of our offerings to answer the cost containment needs of tracks and the customer service demands of the wagering public."

Joe Tracy

Joe Tracy was appointed Managing Director of United Tote Company in 2002 by its corporate parent IGT and in 2003 was named Chief Executive Officer following a management-led buyout backed by Kinderhook Industries. From 1995 to 2001, Tracy headed IGT's Maryland Lottery Division and was responsible for system conversion, account management and game development. The ten previous years, Tracy held management positions of increasing responsibility with the start ups of the Washington State and Montana State Lotteries.

In 1991, Tracy was the first recipient of the Edward J. Powers Award recognizing lottery industry innovation and achievement. He began his career in 1980 with Control Data Corporation where he worked as an engineer on off-track-betting and lottery programs.

Jeff True

In addition to his regional management responsibilities, True has served as the head of Youbet.com's promotion and promotion partner programs. In that role, he was responsible for developing the company's sponsorship with ESPN.com's horse racing section and its exclusive content partner program with CBS SportsLine.com.

True joined Youbet in 2003 following six years (1991-1997) with Los Alamitos Race Course, where he rose from Director of Marketing and Simulcasting to General Manager. Previously, True was Executive Director of the Oklahoma and Texas Quarter Horse Associations. He also held manager level positions with the Thoroughbred Information Agency and was a sales executive with Santa Anita Park, both located in California. He earned his Bachelor of Science degree in horse production and management in 1986 from Tarleton State University in Stephenville, TX.

Joe Hasson

Joe Hasson has served in both product and business development capacities since joining Youbet in 1999. He managed the company's efforts to obtain account wagering licenses in 2001 in Oregon, where he also set up hub operations, and in 2002 in California. Since 2002 he has headed up Youbet's efforts in the mobile channel.

Prior to joining the Youbet, Hasson spent eleven years in the retail systems industry with responsibility for developing and managing major deployments of mission critical systems such as point of sale, inventory management and payments for many of the top 100 retailers in North America. Hasson has a Bachelor of Science degree in business administration from Pepperdine University.

About Youbet.com

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 body.

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. The Company's Players Trust(SM) revolutionized advanced deposit wagering by placing player deposits in the custody of a major U.S. financial institution. 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.

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