SC 13G


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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. )*

Youbet.com, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

987413101

(CUSIP Number)

August 15, 2007

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1(b)

þ Rule 13d-1(c)

o Rule 13d-1(d)

Page 1 of 5

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP No.		987413101	SCHEDULE 13G	Page		2		of		5


1	NAMES OF REPORTING PERSONS: Lloyd I. Miller, III

	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
	###-##-####

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
	(a) o
	(b) o

3	SEC USE ONLY:



4	CITIZENSHIP OR PLACE OF ORGANIZATION:

	United States

		5	SOLE VOTING POWER:

NUMBER OF			934,016

SHARES		6	SHARED VOTING POWER:
BENEFICIALLY
OWNED BY			1,315,520

EACH		7	SOLE DISPOSITIVE POWER:
REPORTING
PERSON			934,016

WITH:		8	SHARED DISPOSITIVE POWER:

			1,315,520

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

	2,249,536

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):

	5.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):

	IA-OO

SEE INSTRUCTIONS BEFORE FILLING OUT!

** See Item 4.

Page 3 of 5


Item 1(a).	Name of Issuer:		Youbet.com, Inc.

Item 1(b).	Address of Issuers’s Principal Executive Offices:		5901 De Soto Avenue
			Woodland Hills, California 91367

Item 2(a).	Name of Person Filing:		Lloyd I. Miller, III

Item 2(b).	Address of Principal Business Office or, if None, Residence:		4550 Gordon Drive, Naples, Florida 34102


Item 2(c).	Citizenship:		U.S.A.

Item 2(d).	Title of Class of Securities:		Common Stock

Item 2(e).	CUSIP Number:		987413101

Item 3.	IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b) OR 13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A:

	Not Applicable, this statement is filed pursuant to 13d-1(c)

Item 4.	OWNERSHIP: The reporting person has sole voting and dispositive power with respect to 934,016 of the reported securities as a manager of a limited liability company that is the general partner of a certain limited partnership. The reporting person has shared voting and dispositive power with respect to 1,315,520 of the reported securities as an investment advisor to the trustee of a certain family trust.

	(a)	2,249,536

	(b)	5.3%

	(c)	(i) sole voting power: 934,016

		(ii) shared voting power: 1,315,520

		(iii) sole dispositive power: 934,016

		(iv) shared dispositive power: 1,315,520

Item 5.	OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

	Not Applicable

Item 6.	OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

	Persons other than Lloyd I. Miller, III have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the reported securities.

Item 7.	IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:

	Not Applicable

Page 4 of 5


Item 8.		IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

		Not Applicable

Item 9.		NOTICE OF DISSOLUTION OF GROUP:

		Not Applicable

Item 10.		CERTIFICATION:

		By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Page 5 of 5

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.



Dated: August 20, 2007	/s/ Lloyd I. Miller, III
	Lloyd I. Miller, III