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ThisTooShallPass
Nov. 12, 2009, 12:46 AM
Dear Youbet.Com Customers and Friends,

We want to let you know firsthand about an important development for Youbet.com. Today we announced that Youbet.com has entered into a definitive merger agreement with Churchill Downs Incorporated, under which, Churchill would acquire Youbet.com, Inc. The closing of this transaction is conditioned upon receiving approvals from our shareholders and regulatory agencies, as well as certain other closing conditions contained in the merger agreement - and until that time the two companies will continue to operate independently - business as usual.

For the foreseeable future, we don't expect that you will experience any major changes with the Youbet wagering platform or the overall the operation of the company. You will continue to be able to use your same handle, password and funding options when wagering on Youbet.com and continue to enjoy all our best-in-breed wagering tools including WagerPadPro™, TurfDay SuperStats, xStreamAV™ and MyROI. We will continue to work to improve your wagering experience and to bring you new and innovative offerings.

We understand how important it is to have trust and confidence in the company you choose to wager with online. For this reason, we believe that our new combined company will continue to provide you with the same level of service to support your wagering experience. Additionally, this combination should provide you with continued peace of mind knowing that the company we are combining with, Churchill Downs Incorporated, is publicly-traded, U.S.-operated, U.S.-owned and backed by substantial financial resources.

Most importantly we want you to know how much we appreciate your business and how even during this time of transition you have our commitment to continue to provide you with the best online wagering experience available anywhere. If you have any questions about our products or services, we are ready to help with our friendly and knowledgeable Player Services team members, who are, as always, available from 5:00am to 9:00pm (PT).

Upon the closing of the transaction, we will reach out to you again to let you know about our plans for the new, combined business; our expectation is that the closing of the transaction may occur during the first half of 2010. Thank you for your patronage, we look forward to our continued relationship.


Sincerely,

David Goldberg
President & CEO Youbet.com