Youbet.com has gotten into the rebate game – sort of. Since April, wagers through youbet.com earn points which can redeemed for TVs, golf clubs, vacation packages, and all sorts of goodies. For high volume bettors (>$12,500 a month), points can be turned into cash at a rate of $50 for 20,000 points. The amount of points per wagering dollar depends on the track and the bet type. Bets on New York, Kentucky, and Southern California tracks earn 2 points per dollar for straight wagers and 4 points per dollar for exotics. This works out to a rebate of 0.5% and 1% respectively. Bets at certain lower profile tracks (Hou, LaD, RD, Med, Mth, Ind, Haw, FL, Del, Tam, Suf) earn 12 points per dollar for straight wagers (3.0% rebate) and 21 points per wager for exotics (5.25%). I don’t wager enough to convert points into cash but I am more than halfway to a 53” HDTV.