Steven C. Good Elected to Youbet.com Board of Directors; Experienced Executive to Serve as Chairman of Audit Committee

Business Wire, June 15, 2006

WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ: UBET) announced that at today's Annual Meeting, stockholders elected Steven C. Good, 64, to the Company's Board of Directors. Mr. Good replaces departing board member, Robert E. Brierley, who elected not to stand for reelection in order to focus on other business commitments. Mr. Good will also succeed Mr. Brierley as Chairman of Youbet's Audit Committee.

At the Annual Meeting, stockholders also reelected all of the Company's seven other directors. Accordingly, the size of Youbet's Board of Directors remains at eight members, six of whom are considered "independent" according to the corporate governance rules of the Nasdaq Stock Market.

Mr. Good is a senior partner in the certified public accounting firm of Good, Swartz, Brown & Berns. Mr. Good also founded CU Bancorp, a California state chartered bank with $525 million in deposits and branches in the San Fernando Valley and Beverly Hills, and served as its Chairman from 1982 through 1992. Mr. Good co-founded the accounting firm Block, Good and Gagerman in 1976. Mr. Good brings to his role as a Youbet board member extensive experience in merger and acquisition transactions and business valuations. He currently serves on the board of directors of OSI Systems, Inc. (NASDAQ: OSIS), Big Dog Holdings, Inc. (NASDAQ: BDOG), California Pizza Kitchen, Inc. (NASDAQ: CPKI), Kayne Anderson MLP Investment Company (NYSE: KYN), and Kayne Anderson Energy Total Return Fund, Inc. (NYSE: KYE). Mr. Good is also active in numerous charitable organizations and is a member of the American Institute of Certified Public Accountants, the National Association of Accountants, the California Society of Certified Public Accountants and the Nevada State Board of Accountancy.

Charles F. Champion, Chairman, President and CEO of Youbet, commented on the appointment, "Youbet's Board will benefit from Steven's extensive business experience and position as a board member of several other public companies. Steven's wealth of knowledge on acquisitions and business valuations will also serve the company well as we continue to pursue acquisitions that could broaden our product line and further diversify our sources of revenue. Additionally, with over thirty years of relevant accounting experience, he is a highly qualified choice to chair our Audit Committee.

"On behalf of the Board of Directors, our management team and the company's shareholders, I would like to take this opportunity to thank Robert Brierley for his contributions to the Board during these past two years."

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 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 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.