|If at first you don’t succeed…Youbet.com, gained unanimous approval for a license at last week’s monthly meeting of the California Horse Racing Board. The company was denied a license on January 24 this year, when Magna Entertainment Corp and Television Games Network were granted theirs. Youbet.com’s original application was denied because the company at that time had not posted a $500,000 security bond.|
'This means we can now service fans in the single largest racing market in the country,' said Ron Luniewski, Youbet’s co-CEO, after his company’s application was approved by the board 6-to-0, chairman Alan Landsburg abstaining.
Youbet.com has operated out of offices in Southern California for five years, but has until now not been authorized to offer betting on races in the state to California residents.