United Tote, Phantom Fiber team up

WOODLAND HILLS, California -- (PRESS RELEASE) -- Youbet.com's (NASDAQ:UBET) United Tote subsidiary has signed a multi-year agreement with Phantom Fiber Corporation (OTCBB:PHFB) to deliver a mobile phone wagering solution that is fully integrated with the totalizator systems used by UT customers. The mobile service, which can be delivered on a wide variety of cellular phones, will let players view race programs, place wagers, manage their accounts and view historical transactions.

The two companies plan to demonstrate a prototype of the new service at the upcoming Symposium on Racing and Gaming being conducted December 3-8 in Tucson under the auspices of the University of Arizona's Race Track Industry program. The product is expected to be deployed by the end of the first quarter of 2008.

United Tote will deliver the mobile service alongside its current suite of pari-mutuel wagering products, including its award winning EnterBet™ wagering software. Wagers through the new mobile platform will be merged with host tote systems and subject to jurisdictional oversight. Phantom Fiber's proprietary mobile platform supports more than 1,500 devices.

"The alliance with Phantom Fiber furthers Youbet's strategic effort to deliver on-demand pari-mutuel wagering services that rely on modern technology to connect with a whole new generation of customers," said Jeff True, President of United Tote. "This step makes the wagering interface completely portable. So, it's a logical extension given the evolution and growing popularity of mobile applications. We're happy to be teamed with Phantom Fiber because they offer superior solutions across the broadest array of mobile devices."

Jeff Halloran, Chairman and CEO of Phantom Fiber Corporation said that his company is excited about the opportunity to work with United Tote, a clear leader in technology development for racing. "This alliance will help to validate the mobile framework," he said. "By taking advantage of Phantom Fiber's technical edge – including rich, multimedia delivery and end-to-end secure data transactions – we expect to set new standards for mobile delivery in horse racing."