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Youbet.com focuses its growth strategy on customer acquisition and retention

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The horse racing wagering company announced that revenues for the first quarter 2007 improved 26% to $35 million. The increase was driven by a 37% improvement in handle to $202 million, with rebate shop IRG accounting for $43.9 million of the total increase in handle of $55.1 million. The yields on Youbet and IRG handle for the first quarter 2007 were 8.1% and 2.4%, respectively.