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Non-Tech : YouBet.com (UBET) -- Ignore unavailable to you. Want to Upgrade?

To: Allen Furlan who wrote (182)	2/17/2003 12:09:32 PM
From: 249443	Read Replies (1) \| Respond to of 221

Hi Allen, I had an XpressBet opened last year and when I went to bet the Kentucky Derby I was told that the track was not available. I always respect your opinions and thoughts.

To: Allen Furlan who wrote (182)	2/18/2003 4:57:17 AM
From: LLLefty	Read Replies (1) \| Respond to of 221

>>>Can anybody help sweep out the cobwebs?<<< Might be able to help some. Frank Stronach's Magna (MIEC) is in a nasty struggle with the NTRA, which a few years ago gave TVG "exclusive" rights accept wagering on, among others, NY state tracks (Big A, Belmont and Saratoga) and those of Churchill Downs. In return, TVG agreed to give the NTRA for marketing purposes a small fraction of its handle to the NTRA. Magna (MIEC) has Xpressbet in competition with TVG but neither can accept wagers on the other's tracks. UBET, running out of money, made a complex deal with TVG which gave it the right to handle TVG's exclusives in return for 20 percent of UBET for .01 cent a share and an option for more at, as I recall, $2.50 a share subject to negotiation. To some extent, it was a deal with the devil since TVG takes a hefty cut of every bet UBET takes from TVG's exclusive tracks. But it saved UBET's life and with new mgt--actually, Marshall was an original partner and returned, sweeping out the old mgt with a loan to keep UBET alive, since repaid--UBET has returned to become a major player. Magna has "magnanimously" agreed to let UBET continue to accept wagers on its growing number of tracks (primarily Gulfstream and Santa Anita and a host of smaller tracks). Whether that continues beyond the present agreement is anyone's guess. Stronach is a stiff-necked competitor. So, at the moment, UBET offers a full plate of tracks. I think that's how it stands today but if anyone has clearer picture please chip in. I don't know how Brisnet fits into the puzzle.