Youbet.com Sets One-Day Handle Record

Edited press release

Youbet.com set records for one-day handle and customer deposits May 7, Kentucky Derby (gr. I) day, the online wagering company announced.

Youbet.com handled about $4.2 million May 7, or about 15% more than Derby day in 2004. Of the total, $2.6 million was wagered on Churchill Downs races, up 19% from the previous year, the company said in a release.

Youbet.com chief executive officer Charles Champion said more than 98% of Derby handle came from markets located 25 miles or more from Churchill Downs.

In addition to record handle, Youbet.com processed a record $1.4 million in customer deposits May 7, up 28% from last year. For the week leading up to Derby day this year, deposits were up 18% compared with the same week in 2004.

On Derby day, Youbet.com said it served more than 9,200 concurrent users.