Monday, 30 July 2012: Australian swim legend Michael Klim believes American great Michael Phelps is vulnerable and very beatable in his favoured 200m butterfly and is giving controversial Australian Nick Darcy a legitimate chance to bring down the American legend.

Klim has used his role as Betfair's swimming analyst for London 2012 to suggest Darcy could spring one of the greatest upsets in Australian Olympic history and defeat the man widely regarded as the greatest swimmer of all-time.

“Phelps looks flat and Ryan Lochte dominated him in the 400m individual medley on day one, but the most telling aspect of that was that Lochte actually beat Phelps in the opening butterfly leg which generally never happens,” Klim observes.

“Phelps is a natural fly swimmer and he was beaten at his own game.

“Nick Darcy has been waiting a long time for his chance to compete on this stage and his confidence would have skyrocketed at the sight of Phelps struggling at his favourite stroke on day one.

“I think Phelps can be beaten and Darcy, along with Takeshi Matsuda from Japan and Wu Peng from China, will fancy their chances.

“Also, don't discount another Aussie, Chris Wright.”

Betfair punters from around the world appear to agree with Klim's observations and have pushed Phelps from $1.17 to $1.29 to win gold in the 200m butterfly.

Darcy sits at $18.50 while Matsuda has firmed from $8.50 to $6.60 following Phelps first-up failure.

Phelps's compatriot Lochte has taken a stranglehold on betting for the 200m individual medley, shortening from a high price of $2.30 to $1.60 while Phelps has blown from $2 to $3.25.