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