Press Release Source: Youbet.com, Inc.
Youbet Has Record Month in May
Thursday June 5, 5:54 pm ET
WOODLAND HILLS, Calif.--(BUSINESS WIRE)--June 5, 2003--Youbet.com, Inc. (Nasdaq:UBET - News), the leading online live event and wagering company, today announced that it surpassed three company records in May, continuing a recent record-setting trend.
HANDLE -- Handle (total amount wagered) for the month of May was $27.6 million, beating the previous record of $20.9 million set in March of this year. One year ago, total May handle was $15.1 million.
TOTAL ACCESS DEPOSITS -- Youbet customers deposited $7,067,625 into their accounts. The old record was $5,158,071 set in April. In May of 2002, $2,968,672 was deposited.
UNIQUE BETTORS -- 12,285 customers wagered with Youbet during the month. That's 1,900 more than the old record of 10,357 set in October of last year. In May of 2002, the system handled 9,962 unique bettors. This record is especially significant because the previous records were set before Youbet implemented a subscription charge in December of 2002.
Commenting on the record handle, Youbet's President and Chief Executive Officer, Charles F. Champion, said: "Our monthly numbers were, of course, aided by the fact that two legs of the Triple Crown -- the Kentucky Derby and the Preakness -- occurred during the month. However, the sustained pace of our growth further demonstrates our ability to increase both customers and handle at compound rates. Youbet continues to be well positioned in a rapidly growing field."
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:GMST - News), and MEC Pennsylvania Racing, part of Magna Entertainment Corp. (Nasdaq:MECA - News). 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 |
