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Youbet.com Has Record Derby Handle; Records Also Set for Concurrent Users and New Accounts
WOODLAND HILLS, Calif., May 6, 2003 (BUSINESS WIRE) -- Youbet.com, Inc.
(Nasdaq: UBET), a leader in online account wagering, today announced its handle
for the Kentucky Derby day was $2,433,780, a 141 percent increase over the 2002
record. Also, on this year's Derby Day, the company processed over 5000 funding
transactions and opened over 1000 new accounts.
"We have had a wealth of good news to announce recently, but these numbers truly
reflect how far Youbet.com has progressed, and our ability to efficiently
perform on major racing days," said Charles F. Champion, President and Chief
Executive Officer.
Champion added, "With success and growth, the Youbet.com systems must continue
to serve our customers in a timely and accurate manner and the numbers on Derby
Day show that we did just that. There were 10,466 users of our system last
Saturday. At the peak of the day, there were 5,558 users on our site at one
time. We secured 1,003 new accounts on Derby day alone. We are excited and ready
for the next two legs of the Triple Crown; The Preakness on May 17th, and
Belmont Stakes on June 7th.
In the week leading up to the Kentucky Derby, Youbet.com members wagered $6.7
million, a 34 percent increase over the company's previous weekly record set
earlier this year during the Santa Anita Handicap Week.
To be added to Youbet.com's investor e-mail list, please contact Ivan Roth in
Investor Relations at Youbet.com, InvestorRelations@youbet.com.
About Youbet.com
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 virtually 100% of all major
domestic horse racing content via its 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 a patent and content licensee and maintains strategic
relationships with TVG, an indirect subsidiary of Gemstar-TV Guide
International, Inc. (Nasdaq NMS: GMST) and MEC Pennsylvania Racing, part of
Magna Entertainment Corp. (Nasdaq NMS: MIEC). 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.com can be found
at
www.Youbet.com.Forward-Looking Statements
Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Statements in this press release regarding Youbet.com's business which are
not historical facts are "forward-looking statements" that involve risks and
uncertainties. For a discussion of such risks and uncertainties, which could
cause actual results to differ from those contained in the forward-looking
statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for
the most recently ended fiscal year.
Note to Editors: You Bet is a registered trademark of Youbet.com, Inc. All other
brands and products referenced herein are the trademarks or registered
trademarks of their respective holders.
To open an account, please visit
www.Youbet.com or call Member Services toll
free at 1-888/YOUBET8 (968-2388).
Copyright (C)2003 Youbet.com, Inc. All rights reserved.
You Bet is a registered trademark of Youbet.com, Inc.
SOURCE: Youbet.com, Inc.
CONTACT: Youbet.com, Inc.
Ivan Roth, 818/668-2100
Investor Relations
InvestorRelations@youbet.com
(c) 2003 Business Wire. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission.
KEYWORD: PENNSYLVANIA
OREGON
KENTUCKY
CALIFORNIA
INDUSTRY KEYWORD: E-COMMERCE
INTERNET
GAMING