Youbet posts $2mil loss
 

Revenues for the company, driven by strong wagering gains for its domestic account-wagering platform and for its offshore rebate shop, International Racing Group, were $136.7 million, up 53.9 percent over 2005. Expenses rose 60.4 percent, from $85.8 million in 2005 to $137.3 million in 2006.

Total handle through both Youbet.com and IRG rose 61.5 percent to $763 million. Of that total, $299.2 million was bet through IRG, an increase of 190 percent over the 2005 figure. Youbet said in a release that the growth was driven in part by the implementation of computerized robotic wagering at IRG in 2006. The technology utilizes a sophisticated computer program to determine large combinations of wagers, coupled with rebates on handle.

http://www.drf.com/news/article/83219.html

So, IRG implemented computerized robotic wagering , and $299 of $763 million was bet thru IRG. So , the whales are there and Youbet persists in trying to market Youbet to smaller bettors ? It would seem that their whales are eating the smaller players lunch, wouldn't it. Wonder when there are those late drops in odds while the races are being run ? Well it would seem that we can thank Youbet for that.

BTW, are you going to touch on this topic for your handicapping seminars on Youbet ? What do you make of this all ? Seems as if one doesnot need to improve ones handicapping much when those IRG rebates kick in. It smells like week old fish to this handicapper.

Their loss is directly related to getting sued by TVG over some stuff regarding simucasting. Until this report, they have been steadily growing and very solid statements.

IRG is interesting, but they can only go so far as you can not wager online through them, everything is phone wagering I THINK.

So, IRG implemented computerized robotic wagering , and $299 of $763 million was bet thru IRG. So , the whales are there and Youbet persists in trying to market Youbet to smaller bettors ? It would seem that their whales are eating the smaller players lunch, wouldn't it. Wonder when there are those late drops in odds while the races are being run ? Well it would seem that we can thank Youbet for that.


It is the slow system and not late wagers. With You Bet I can place a wager right up to the time the first horse gets to the gate. I have never been able to place a wager after the first horse has loaded in the gate.

WANNA BET ? i had both u an bris, u was the worst and there is at least a 30 second diff between them in favore of bris. My buddy also had a terrible time with u video, as i did with a security program i have and they could never fix it. Lost both our business. Guess it did terrible things to their bottom line. :D