Youbet.com Endorses Chuck Champion's Leadership and Promotes Him to Chief Executive Officer;...

Business Editors & High-Tech Writers

LOS ANGELES--(BUSINESS WIRE)--Sept. 12, 2002

The Board of Directors of Youbet.com(R), Inc. (Nasdaq:UBET), the leading online live event and wagering company, today announced the promotion of Charles F. Champion to Chief Executive Officer.

"I feel the timing is right to move Chuck Champion into the Chief Executive position," stated David Marshall, current CEO, Co-founder and Executive Committee Member. "Chuck joined the Company in April 2002 as President and Chief Operating Officer. He has quickly applied his considerable operating and marketing skills to our enterprise. He has learned the industry. He knows the key players and he enjoys their respect. Chuck Champion is ready to take responsibility for all the deliverables at YouBet.com. Having had the opportunity to work closely with Chuck, I am also highly impressed with his integrity and passion. I know he will prove to be an effective, strong, and successful Chief Executive who will build value for all of our shareholders." Marshall will continue to be active on the Executive Committee and the Board of Directors where he will focus on strategic planning, business development and Wall Street relations.

"I am both honored and pleased to accept the appointment to CEO," responded Chuck Champion. "We are proud of the enormous progress we have made over the last five months and remain a committed team dedicated to keeping Youbet on its current growth track and maintaining our market leadership."

Mr. Champion has an extensive executive background in newspaper publishing and was president and publisher of the Internet publication Access Magazine before coming to Youbet.com. From 1995 through 1999 Champion served as Senior Vice President of Circulation and Marketing for Philadelphia Newspapers, Inc., a Knight Ridder Company, which includes the Philadelphia Inquirer and Daily News. From October 1990 to June 1995 Champion held executive positions at the Chicago Sun-Times including Executive Vice-President of the newspaper and as President of the Chicago Sun-Times Charity Trust. Throughout his career, Champion has proven to be extremely adept at increasing circulation/subscribers while continuing to reduce expenses.

To be added to Youbet.com's investor e-mail list, please contact Diantha Shaffer in Investor Relations at Youbet.com: InvestorRelations@youbet.com.

About Youbet.com

To open an account, please visit http://www.youbet.com/ or call Member Services toll free at 1-888-YOUBET8 (968-2388).

In the United States, Youbet.com provides network members the ability to watch and, in most states, the ability to wager on a wide selection of coast-to-coast thoroughbred and harness horse races via its exclusive closed-loop network. Members have 24-hour access to the Youbet Network's features including live racing from a choice of over 80 racetracks representing all major racetracks, in the U.S., Canada and Australia such as Mountaineer, Churchill Downs, Hollywood Park, Belmont Park, Delaware Park, Arlington, Pimlico, Oaklawn, Del Mar, Aqueduct, Saratoga, Santa Anita Park, Gulfstream Park and Golden Gate Fields. Other Network features include commingled track pools, live audio/video, up-to-the minute track information, real-time wagering information and value-added handicapping products. Youbet Network customers enjoy live coverage from and wagering accessibility to all major racetracks in 39 states, representing virtually 100% of major horse racing content.

Youbet.com is a patent and content licensee and maintains a strategic relationship with TVG, an indirect subsidiary of Gemstar-TV Guide International, Inc. (Nasdaq:GMSTE) and also maintains a strategic relationship with MEC Pennsylvania Racing, part of Magna Entertainment Corp. (Nasdaq: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.

Forward-Looking Statements

Press releases issued by Youbet.com may contain forward-looking statements, which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expense, and other factors described in the Company's filing with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Note: 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.