Largest internet provider of horse racing content in the U.S.
11 consecutive quarters of growth
Unleveraged balance sheet with $9.7 million in working capital
37% market share
Strategic relationships with TGV and Magna Entertainment Corp
Outlook - The largest internet provider of thoroughbred, quarter horse and harness racing content in the U.S., Youbet.com Inc. (UBET) is a profitable company with virtually no long-term debt, a solid cash position, growing revenues and strong market penetration.
Place your bets now. While the odds are against you, love it or hate it, the commercial casino gaming industry is an important sector of our nationís economy. The more than 355,000 individuals employed by the industry in 1999 made more than $9.8 billion in wages, and the more than $3 billion in gaming tax revenues paid by the industry to the states and communities where casinos operated provided funding for needed services and programs.
Closer to home, and perhaps even in your living room, Internet gambling is a growing force to be reckoned with. In 2003, the U.S. General Accounting Office predicted worldwide revenue from online gambling sites to reach $5 billion. Online casinos are illegal in the U.S.
But there is always an exception. Pari-mutuel horse racing is the only legal online wagering opportunity in the U.S. Specific exemptions to federal law allow companies to offer the service through online advanced deposit wagering (ADW).
The pari-mutuel system (the term means "among ourselves") has bettors wagering against each other online (rather than against the house) through a licensed ADW system. ADW for horse racing is relatively new and is the fastest growing channel in the industry.
While domestic horse racing wagering is an $18 billion market, ADW has a penetration of only 10%. The ADW industry market share leader, UBET is uniquely positioned to further capitalize on this, and other burgeoning fields.