Top Sales Management Executive Tapped to Lead Youbet.com, Inc. Marketing; Levenick Brings Success Record at Miller Brewing, Coors and Incentive Marketing to Youbet's Corporate Management Team

Business Wire, August 9, 2006

WOODLAND HILLS, Calif. -- Thomas L. Levenick has been named Vice President of Sales and Marketing at Youbet.com, Inc. (NASDAQ:UBET), according to an announcement by Youbet CEO Charles F. Champion. Levenick, a former top sales and management executive with Miller Brewing, Coors, Crystal Geyser Water and incentive marketing leader E2 Strategies, assumed his new position August 1, 2006.

With more than 20 years of general management, sales, distribution and incentive marketing experience, Levenick will oversee programs aimed at growing Youbet's consumer advanced deposit wagering (ADW) franchise and expanding sales of technology-based products and content distribution services to tracks and other potential business partners. Levenick will develop and coordinate programs for all three of Youbet's operating units: online ADW leader Youbet.com, rebate provider International Racing Group, and United Tote.

"With strong leadership, sales and marketing credentials and a deep understanding of consumer markets and distribution channels, Tom will help Youbet achieve its integrated sales and service goals," said Champion. "He has a truly impressive record in general management and sales and I am confident that he can apply his experience to our products and programs, including our new Youbet Advantage incentive offering, to produce both near and longer term results."

Prior to accepting his new position with Youbet, Levenick was Senior Vice President of Sales for E2 Strategies, one of the nation's top corporate incentive, entertainment and meeting companies. Before joining E2, he spent a decade (1995-2005) in executive capacities with major brewers, growing national sales and profits for Miller, Coors and LaBlatt USA.

From 1984 to 1994, Levenick held positions with companies in the beverage industry. He managed national sales for Crystal Geyser Water Company in Calistoga, CA from 1991 to 1995, and he began his business career in 1984 with Beverage Management, Inc., now American Bottling, the largest third tier soft drink bottling group in North America, where he rose from sales representative to sales promotion manager.

Levenick is a 1984 graduate of Ohio State University where he lettered in football and played in the 1979 Gator Bowl and 1980 Rose Bowl. He completed the Executive Development Program at the University of Pennsylvania Wharton Business School in 1996. In 1997 and 1998 he earned the Coors Key Contributor Award for Sales.

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(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 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.

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 Youbet's filings with the Securities and Exchange Commission. Such factors include, without limitation, the following: our successful integration of United Tote; 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; 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.