Youbet intends to
operate IRG as a separate legal entity.
Youbet. Champion said
that the arrangement is in keeping with Youbet's strategy to cultivate
a broader fan base for the sport of horse racing that will yield
long-term benefits for tracks, horsemen and the entire industry.derbypick12.com's exclusive closed-loop network.

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Youbet has
retained Gregg Schatzman of the firm of Schatzman + Associates, a
23-year gaming industry veteran and former Chief of Investigations for
the Nevada Gaming Control Board, to assist Youbet and the committee in
crafting and implementing any necessary protocols to ensure that,
among other items, the protocols and safeguards of acquisition targets
are in line with the rigorous standards Youbet has established for its
online and telephonic wagering businesses .com's massive audience through advertising and promotion
programs," Champion said.Youbet.

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com,
Inc .
While IRG is one of several companies that were recently denied a
continued signal feed from the New York Racing Association (NYRA),
Youbet continues to receive NYRA's racing content and therefore
believes that IRG's customers will benefit from this transaction.
John Roark, President of the National Horsemen's Benevolent and
Protective Association (NHBPA) commented, "Off-track wagering is a
complementary business for the horse racing segment, and the
appreciation of it by industry participants should only increase as
the visibility of licensed, public companies continues to grow . In connection with the
completion of the IRG due diligence, Mr.
Members have the ability to watch and, in most states, the ability to
wager on vast majority of all major domestic horse racing content via
Youbet. More
information about Viacom and its businesses is available at
www.

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Youbet .com is an official online wagering platform of Churchill
Downs Incorporated and the Kentucky Derby .
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. Youbet.com is
a member of the Viacom family and a division of CBS Sports.

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Youbet expects to add representatives from the
horse racing, U."
Youbet.com

CBS SportsLine.
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.

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law enforcement and financial services sectors to
the committee in the near term. From time
to time, these risks, uncertainties and other factors are discussed in
the Company's filings with the Securities and Exchange Commission.

Business Editors/Entertainment Editors/Horse Racing
Writers/Internet Writers

WOODLAND HILLS, Calif."
The agreement calls for Youbet to provide CBS SportsLine. The first
installments, which will be on cbs. For more
information about CBS SportsLine. 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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"As their exclusive horse racing content provider, Youbet's
products and services will gain tremendous exposure to CBS
SportsLine.

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IRG does not process wagers over the Internet. Lou and his management team have a deep appreciation for the
horse racing industry, its regulatory process and the role that our
companies can play in furthering growth in the entire industry. 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.

com's flagship site, cbs.sportsline . "Based on our own success in
growing the 21 to 40 year old demographic, we know that many of them
are online -- in fact, many of them are at CBS SportsLine..com
Other newly created programs will go live before the 2005 Breeders
Cup World Thoroughbred Championships at New York's Belmont Park in
October.

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Youbet. 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. Youbet.com is an official online wagering platform of Churchill
Downs Incorporated and the Kentucky Derby.com TotalAccess(TM), an Oregon-based hub for the acceptance and
placement of wagers.

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Additional financial details
will be disclosed upon execution of the definitive purchase
agreements. The deal means that
Youbet's diverse content offering -- including live racing video, race
replays, handicapping products, racing tutorials, and games and
contests -- will now be accessible to the millions of sports fans who
visit CBS SportsLine .com is at the leading edge of media companies
providing Internet sports content, Fantasy sports and e-commerce. 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.

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Business Editors

WOODLAND HILLS , Calif.----Youbet. The acquisition
of IRG, which has built up a strong and loyal customer base under the
direction of Lou Tavano, would, if completed, be consistent with this
goal.com

About CBS SportsLine. From time
to time, these risks, uncertainties and other factors are discussed in
the Company's filings with the Securities and Exchange Commission.

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In
addition, Youbet also believes that its existing relationships with
race tracks and horsemen's groups will benefit as a result of the
proposed transaction. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the
date of this press release.com,
Inc. (Nasdaq:UBET) announced today that it has signed an agreement to
be the exclusive horse racing content provider for CBS SportsLine .
"Our industry needs to find a younger generation of fans by
reaching out to them," Champion said .
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.

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If completed, the acquisition is expected to close in the second
quarter and would be accretive to Youbet's 2005 operating results.com members enjoy features that include 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. More information on Youbet.com can be found at
www.com

Forward -Looking Statements

This press release contains certain forward-looking statements.
In making the announcement, Youbet CEO Charles F. In
addition to its flagship service, the company publishes the official
Web sites of the NFL, PGA TOUR and NCAA Sports. CBS SportsLine.sportsline.

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Youbet expects to finance the transaction with cash on hand and the
issuance of common stock currently held in treasury.com's website.com, each and
every month. More information on Youbet can be found at
www .com and for the latest sports news,
scores and expert analysis, please visit cbs.

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IRG
has contractual agreements with the more than 90 thoroughbred, harness
and greyhound tracks for which it accepts wagers.

Youbet Inks Agreement to Become CBS SportsLine.com's Exclusive Horse Racing Content Provider; Leading Sports Website Will Expose Youbet to Millions of Sport Fa

"As important, the sport is likely to garner
greater levels of interest as even more young, tech-savvy sports
enthusiasts catch on .com is the largest Internet provider of thoroughbred,
quarter horse and harness horse racing content in the United States.

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The purchase of IRG is contingent upon
certain events, including the completion of Youbet's due diligence,
execution of the definitive transaction documents and the approval of
Youbet's Board of Directors. IRG accepts
telephone wagers only; predominantly from high-volume customers. Schatzman will conduct a
review of IRG's business operations and recommend new polices , if
needed, to ensure that IRG's business operations satisfy Youbet's
compliance policies.
Champion continued, "As our ADW business grows and our product
lines diversify, we intend to maintain a leadership role in
self-regulation and compliance.com operates
TotalAccess(SM), an Oregon-based hub for the acceptance and placement
of wagers.
Youbet.

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S. To that end, we will continue to rely
upon and work with outside experts like Gregg to help integrate new
businesses into our current compliance programs."

About Youbet. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the
date of this press release.

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Charles F.youbet.----Youbet .com --
surfing for fast-paced, interactive and entertaining ways to get
involved with sports.

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We
believe the proposed acquisition of IRG, given Youbet's leadership in
setting compliance and regulatory standards, makes this transaction
one that will benefit race tracks, horsemen's groups , and the industry
at large."
Youbet recently began the formation of an independent committee
that will review the Company's current gaming compliance policies to
ensure that the Company continues to employ "best-practices", and then
report its findings to Youbet's Board of Directors.
Members can watch and, in most states, wager on the widest variety of
horse racing content available via Youbet.sportsline.com in time for this
week's Kentucky Derby, feature live racing audio/video, the
Youbet-Daily Racing Form Triple Crown Watch page and a $100,000
Kentucky Derby Pick 12 contest (www.

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com is the largest Internet provider of thoroughbred,
quarter horse and harness racing content in the United States as
measured by handle data published by the Oregon Racing Commission. 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 .
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.

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and selling them what this great sport
has to offer.com with
program content in three phases over the next six months.com

Forward Looking Statements

This press release contains certain forward-looking statements.

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IRG had
approximately $140 million and $210 million in handle (total wagers)
in 2003 and 2004, respectively.com.

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IRG's success and popularity is
partially attributable to its practice of employing a wager
discounting program for players in exchange for their wagering volume. Champion, Youbet Chairman and CEO commented , "One of
our core growth initiatives has been to expand the scope of our ADW
product line through the acquisition of other pari-mutuel wagering
companies that would be accretive to our operations .com,
a leading Internet sports media organization..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.com operates
Youbet. 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 .

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Youbet.com Agrees to Acquire International Racing Group; Transaction Would Expand Scope of Youbet.com 's Product Line

(NASDAQ:UBET), a leading online wagering company and the largest
provider of Internet horse racing content in the United States,
announced today that it has entered into a Letter of Intent to acquire
International Racing Group (IRG), a privately-held, licensed and
regulated pari-mutuel account wagering company based in Curacao, a
Netherlands Antilles territory. The exposure afforded by our agreement with this
highly regarded Internet sports company is another key step to
engaging them in our sport .com

Youbet.