Youbet.com Reports Handle Increase Preakness Day
Updated: Wednesday, May 24, 2006 7:55 AM
Edited press release
Posted: Wednesday, May 24, 2006 7:55 AM
Youbet.com handled $4.2 million Preakness Stakes (gr. I) day to top last year's same day handle by 18.5%. The May 20 figure is the second-highest in the history of the account wagering service.
Of the total, $2 million was wagered on the 13-race program at Pimlico Race Course, up 7.6% from last year. (The all-sources handle at Pimlico was down 3.8% from last year.) Youbet.com customers bet almost $1 million on the Preakness alone.
International Racing Group, a Youbet.com-owned offshore service with a hub in Oregon, handled $3.3 million in bets on the day, up 239% from 2005. RG contributed $1.3 million to the total handle at Pimlico on Preakness day.
Youbet.com signed up 2,150 new customers in the five days leading up to the Preakness. More than 97% of Youbet.com wagers on Preakness day came from customers who live more than 25 miles from Pimlico.
"Youbet's performance the day of the Preakness demonstrates again that online broadcasting of and wagering on live horse racing continues to grow in appeal," Youbet.com chief executive officer Charles Champion said. "Our network puts fans in touch with the totality of our sport--from handicapping to wagering, live viewing, and replays. For tracks and horsemen, our network is a marketing conduit to a growing number of bettors," Champion said. "Wagering customers respond to online promotions of our racing content and a large ."
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