11-10-2007 Youbet.com served with search warrant for records of its offshore betting business IRG

The advance deposit wagering company said it believes it's not a target of the investigation run by the U.S. Attorney's Office in Las Vegas and that it was cooperating with the US Government. IRG is an offshore betting outlet located in Curacao that offers rebates to customers. Youbet.com also believes the investigation involves at least one other prominent offshore betting company and possibly others.

Youbet.com recently ceased to accept wagers from customers in Arizona and in the District of Columbia, while it continues to operate in Virginia despite the lawsuit filed by Colonial Downs and the Virginia Horsemen's Benevolent and Protective Association.