Used this book as background for a paper I wrote on Betfair at Betting exchanges. This is the only book out there that covers everything about the exchanges, their history, how they operate, betting strategies etc. If you want lots of depth on any of these topics (e.g. it's not the complete story of Betfair) then you might be disappointed but as an overview its great.
I would like to be more enthusiastic about this book. It is certainly quite comprehensive, covering not only horseracing, my particular interest, but all the major sports and other activities on which it is possible to gamble. I feel at times that Paul Kealy makes heavy weather of explaining things. Belinda Levez deals with the key elements so much more simply and clearly in her excellent "Back a Winning Horse".
Kealy's continual gibes at technophobes are another source of irritation. This book, and many like it, are obviously written for the semi-professional punter and while of course it is true that it makes little financial sense to combine bets in yankees etc., it also shows contempt for the working man/woman who enjoys a modest bet at the weekend, not expecting to make a living from racing or even to come out ahead in the long run. He/she has no time to devote many hours each day to studying form and assessing value.
Betting Exchanges are to be welcomed if only because unlike bookies they welcome winning as well as losing punters. I'm sure we shall see more and probably better books on the subject in the future.