With the dawn of Betting Exchanges in the summer of 2000, betting shop gamblers were at last presented with a genuine alternative to traditional bookmakers.

The bookies had for too long been allowed to manipulate book creation far too much to their own advantage and so a new betting model was devised and developed.

The simple concept of the Betting Exchanges such as Betfair and BetDaq is that punters are allowed to offer bets into the market that are then matched against other punters, who are placing bets with an opposing view about the outcome of the same event.

Due to high liquidity and extreme volatility the Betting Exchanges have created trading opportunities and betting strategies that even the inventors of Betfair themselves could never have imagined.

For the professionals Betfair spawned a new era, a new breed of gambler was born with lifestyles more akin to traditional financial market day traders.

Mike Davies is one such trader who has combined his extensive financial and spread betting knowledge with his love of sports, horse racing and betting to become a master of the Betfair racing markets

Mike’s latest project is Betfair-Trade.com, designed specifically to educate would be investors and traders of the pleasures, profit potential and the pitfalls of making a living using a host of different betting strategies on Betfair.

In our interview with Mike he mused about the origins of his ideas for the “Betfair Race Trading Formula”.

“Nothing like this had ever been attempted before.

I had realized my own achievements using the Betfair platform, but I also noticed a total absence of advanced high quality training material explaining about exchange techniques and profitable strategies.

Particularly absent was anything in relation to my own style of betting.

There was plenty of information available about laying horses but very little about trading and charting, technical analysis of race markets, dutching, bookmaking, and the finer arts of race reading and analysis.

I really wanted to hook these strategies deep into present day “professional horse racing, and provide an up to date analysis for anyone wanting to learn how to work both the flat and jumps racing successfully.

I really felt the timing was right - the facilities for fundamental form analysis online have never been better. Punters have never had it so good!!

The free information available online at the RacingPost.com and AtTheRaces.com is simply outstanding. But this fantastic wealth of information is absolutely useless until you know and learn exactly what to do with it.

One particular goal was to see if it was possible to take the average losing punter (which still constitute approximately 90% of punters with Betfair accounts), apply the entire training package and advanced strategies over a period of several weeks, and see if there was any possibility of them turning a guaranteed profit on Betfair.

It has been quite a journey. The strategies and systems are configured so that punters can experience success early on and we are achieving an extremely high success rate.

We put the package on Clickbank because they are recognized as state of the art for deploying these type of products and I particularly liked the 60 day refund mechanism.

The “Betfair Race Trading Formula” maintains one of the lowest refund rates for the Betfair class of products so our decision to go with Clickbank has been entirely justified.

The feedback from customers is great encouragement.

The guarantee of a full refund is a must for any online information product in my opinion. If you buy something in a shop and you are not 100% satisfied you take it back.

Why should it be any different online. Its all about trust!”