A Busy Week for Youbet.com

10 November 2000
After maintaining a relatively low profile of late, closed-loop pari-mutuel wagering service provider Youbet.com Inc. made several announcements this week and is showing signs of rebounding from a rough year that was highlighted by a costly $1.3 million lawsuit.

The flurry of announcements begins with the addition of 13 racetracks to Youbet's lineup. The new tracks--Capitol Racing at Cal Expo (CA), Bally's at Ocean Downs (MD), Raceway Park (OH), Rosecroft Raceway (MD), Scioto Downs (OH), Great Lakes Downs (MI), Mountaineer Park (WV), Northern California Fairs (CA), Retama Park (TX), Timonium (MD), Hastings Park Racecourse (BC), The Red Mile (KY) and Ascot Racecourse (GB)--join 61 other partner tracks offered on the company's exclusive closed-loop network

The company is also linking up with BroadVision One-To-One Enterprise for content management and personalization on its wagering and points and prizes offerings. "Our typical user seeks a wealth of personalized information in order to make an informed decision, whether for cash or for points and prizes. With BroadVision, we can automatically customize our sports and racing information and content to address the needs and interests of each individual user," explained A. L. Frank, Youbet.com's president.

He added, "By coupling Youbet.com's horseracing infrastructure with BroadVision's technology, we can cost effectively automate the process of acquiring and classifying content. Importantly, we plan to target a broader base of sports fans for each of our products using a personalized marketing approach."

The company additionally announced that it is developing its online sports-related product for launch in mid 2001. The product will provide coverage of a wide range of sports, beyond horseracing, to appeal to a diverse, global audience.

Meanwhile, stockholders are waiting to get their hands on the company's third-quarter earnings, which are slated for release November 14. Youbet's stock price has almost steadily declined in value throughout 2000. Through March of this year, shares hovered in the $6 to $7 dollar price range before spiraling downward. On Oct 18, Youbet's price fell to $1.00, a 52-week low. Shares were selling yesterday at 1-1/2 to 1-11/16.