Each Way Betting Report #2 – August

This is the Pursue FIRE Each Way Betting Report. Each Way Betting is a side-hustle in testing. Starting with a bank of £500, horses are selected for ‘each way bets’ based on nothing other than their perceived statistical value across a number of bookmakers using specialised software from OddsMonkey

Each month I summarise my results and offer insights, tips, and tricks and show my real numbers. To learn more about Each Way Betting and how you can get started, please check out my Full Guide To Each Way Betting.

Each Way Betting Report 2

Welcome back for another update on the Each Way Betting experiment! If you missed the write-ups for previous months, you can catch them in all their glory here:

In addition, I maintain a live results page that updates automatically each day as bets are settled. As its becoming bigger (now 4 months) I’m working on relocating this to its own dedicated full-width page to show it in all its glory, but for now, it’s still where it is, but it can be maximised by clicking on the expand button at the foot of the chart 🙂

Before we continue, please note that this post includes affiliate links to OddsMonkey. In my opinion, Each Way Betting would not be possible without the brilliant Each Way Matcher Tool. If you are interested to try it out, please consider following the link. You can try the features out and OddsMonkey offer a full 30-day, 100% money-back guarantee if it’s not for you.

So after a somewhat mixed start in July, did things go any better during August?

August Results

We had a family holiday down in Cornwall in early August so betting was limited to either side of our week away. Trying to carve out an hour each day to place horse bets was always going to be a challenge with the family in tow! Nevertheless, here are the results for what was, ultimately, 17 days of bets.

Pursue FIRE Each Way Betting Report #2

As you can see from the results table above, things worked out rather well! Our starting bank for the month was £479.71 after July’s small loss, but by the end of August, I’d managed to bank an impressive profit of £227.95, elevating our balance to a closing value of £706.66. This translates into a 47.5% return on my bank for the month and 39.6% since we began in July.

These figures are based on the returns and balances of my bookmaker accounts. As before, we then have to net off the monthly OddsMonkey subscription – the invaluable tool without which, each way betting would be impossible. This is charged outside of my betting accounts so a quick bit of maths suggests that our overall profit & loss for the months was £209.96 or a 43.8% overall return

In terms of turnover, £980 was placed with bookmakers and that translates into a Return on Investment (ROI) of +23.26% from our bets placed

Chart

Let’s see the month in the graphical form. Again, the blue bars represent the daily profit or loss, while the green line represents the cumulative profit or loss for the month:

The chart shows that we built some great momentum in August, particularly in the middle of the month where we enjoyed a number of consecutive days with good profits. The overall return of 47.5% (before deducting the OddsMonkey subscription) is even more impressive when you consider the second half of August was fairly uneventful bar one decent day on the 29th. There were a number of losing days.

Again, we should expect to see most of our bets lose – we are just trying to land one or two wins or place combinations. When these come in, they significantly offset those losing bets. It just goes to show that returns are still possible – more than 50% of my bets lost this month, yet the returns were substantial.

I’ll be back in early October with a look back at September’s results (month 3)

If you have any questions or comments, I’d love to hear them below

Thanks

Dan

OddsMonkey

This Post Has 2 Comments

  1. Hi Dan. I’ve had similar results with about a 22% return – i’m £1200 up in the same period doing £5 each way bets. I’m tempted to increase stakes but i’m worried out getting restricted. Bwin restricted me within about 8 weeks. others looking ok at the moment. I’m using about 11 accounts at the moment. Good to see another FIRE devotee – still not enough of us yet! Good luck with the blog, I’ll have a look around. best, Alan – from Bedfordshire

    1. Hi Alan

      Well done on achieving some great results. Like you I’m doing £5 eachway bets across 7-8 of the main bookmakers (Bet 365, Ladbrokes, William Hill etc). From what I gather the restrictions are more likely to happen sooner on some of the less established, internet only bookmakers. Question for you. Are you placing bets in the same browser as OddsMonkey? That might trigger things on the bookmaker side of things. I personally have OddsMonkey on my PC but actually place bets via the mobile apps on my phone. Not sure if that makes a difference but I read another article that offered some tips and tricks as to how to block the small bit of code that the bookmakers may use to track your IP address – it was called IE Snare I’d something. I’ll see if I can find a link.

      I’m planning to up stakes at the end of the month. I figure if the likes of TheFireStarter is up to £45 stakes there is enough wriggle room :-). September is looking even better than August right now (I’ll post results next week). Who really knows how long this can last so I think I’ll try and make hay while the sun shines – always keeping to 1% risk though to ride out the variance.

      Thanks for checking out the blog – I promise it will be much more than just each way betting 🙂 I have lots of content in the works but I’m a newbie so getting things up and running is taking longer than I thought. Because I’m doing the Each ways every day it’s just the easiest thing to start with 😉

      Do you have a blog also? I agree we need more FIRE folk in the UK

      Thanks

      Dan

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Hello and welcome to Pursue FIRE. My name is Dan and I am the owner and author of all content on this site. I am passionate about personal finance and look forward to engaging with you.
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