Roger Licht Named to Youbet's Independent Wagering Compliance Committ

    Business Editors/Gambling Writers/Internet Writers

    WOODLAND HILLS, Calif.--(BUSINESS WIRE)--April 18, 2005--Youbet.com, Inc. (Nasdaq:UBET) announced today that Roger H. Licht, former chairman of the California Horse Racing Board (CHRB) and a prominent horse racing legal expert, has agreed to become a member of the company's independent wagering compliance committee.
    Licht, who served on the CHRB for three years and was Chairman in 2003, is credited with expediting the initiation of advanced deposit wagering (ADW) in California, a move that has since helped to boost fan interest in the state's horse racing products. Licht, an active owner, breeder, fan and student of thoroughbred race horses, also served on CHRB's Simulcasting Committee.
    "Roger is a horseman with extensive regulatory and legal experience who also has a comprehensive understanding of ADW and publicly held companies," said Youbet CEO Charles F. Champion in making the announcement. "We are very fortunate to have a man of Roger's stature on our committee and we are looking forward to learning from his unique insights on the sport and the business."
    Licht's legal practice, which spans more than two decades, focuses on horse racing as well as business transactions and corporate law. He represents racing owners, breeders, trainers and jockeys. He also has served as a Director of two Nasdaq listed public companies (Medco Containment Services and Synetic).
    "Youbet has a very progressive and transparent approach to compliance," Licht said. "I am excited about serving on their independent committee.
    "As important, I am delighted to be associated with a company that believes in our sport and that is working so smartly to popularize it among a new generation of fans," he said.
    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 the 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.

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CONTACT: Beacon Advisors Hud Englehart, 312-222-5801

KEYWORD: CALIFORNIA INDUSTRY KEYWORD: LEGAL/LAW SPORTS ENTERTAINMENT GAMING MANAGEMENT CHANGES SOURCE: Youbet.com, Inc.

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