XpressBet offers online handicapping
AURORA, Ontario – (PRESS RELEASE) -- Magna Entertainment Corp. ("MEC") (NASDAQ: MECA; TSX: MEC.A) today announced that for the second consecutive year XpressBet, Inc. ("XpressBet"), MEC's Advance Deposit Wagering Service, will offer account holders a series of lucrative online handicapping tournaments involving races from Gulfstream Park and Santa Anita Park with cash and qualifying prizes totaling over $130,000.
"Horseplayers love to compete," said Ron Luniewski, President of XpressBet. "The convenience of playing online for attractive prizes is compelling and the tiered structure of our events offers players at any level a shot at the top prize."
In XpressBet's tournament series, all roads lead to the $50,000 XpressBet Showdown(TM) on March 24 and 25, 2007. The event has a $20,000 winner's share and the top two finishers earn berths in the '08 Coast Casinos Horse Player World Series in Las Vegas. Players can qualify for the $50,000 XpressBet Showdown in two preliminary tournaments--$50,000 XpressBet Beat the HostTM and $30,000 XpressBet Live(TM)--or they can buy into the main event by paying a $500 registration fee.
Starting off the tournaments is the $50,000 XpressBet Beat the Host, offered Saturdays in January and February, which has no registration fee and matches XpressBet account holders against HRTV hosts Jon White or Jeff Siegel in eight mandatory races. Each week, the top five finishers earn a share of $2,500 in cash prizes. Additionally, players who `beat the host' in weekly competitions automatically qualify for the $5,000 XpressBet Beat the Host Championship on March 3, 2007. The top 40 finishers in the Championship advance to the $50,000 XpressBet Showdown--a $500 value each. There's also a $5,000 XpressBet Sweep the Host(TM) bonus available to any player who `beats the host' in all eight weeks of competition.
The next tournament, $30,000 XpressBet Live, has a $50 registration fee and is a two-day online competition March 17 and 18, 2007, for cash prizes including a $5,000 winner's share. Plus, the top 40 finishers in this event also qualify for the $50,000 XpressBet Showdown--a $500 value each.
Last year, XpressBet account holder Jack Demita took down the $40,000 top prize in the XpressBet Showdown and Stephen Speros, who qualified for the main event via XpressBet Beat the Host, collected $20,000 for finishing second.
"The Xpressbet tournament was great, a real good deal and definitely worth it," beamed Speros. "I'll positively be back again."
Demita and Speros will represent XpressBet in Coast Casinos Horse Player World Series January 18-20, 2007 in Las Vegas.

