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 🙂
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.
After a mixed start in July and a fantastic August, how did the Each Way Betting experiment fare in September?
Let’s take a look at the month in graphical form…
So, as you can see, September proved to be yet another storming month with returns of 48.6% on the month, bringing home a whopping £343.76 in profits. Overall, that’s a cumulative return of 107.5% …. Yes, that’s right! The starting bank in July of £506.78 officially doubled to £1,051.42.
As always, here is the data stable of stats for September and the experiment to date:
September proved to be the most active month to date with 270 total bets placed across 22 days. That’s an average of around 12 bets per day, which remains consistent with previous months.
In total, I turned over £1,256.50 through my chosen bookmakers, yielding a 27.4% return on investment for the month.
Ignoring the 9 bets that were void or non-runners, there were 261 completed bets for the month:
- 34 horses were outright winners (13% of total bets)
- 67 horses placed (26%)
- 160 horses failed to win or place (61%)
“As stressed in prior months, we should expect the majority of our horses to be losing bets”
The best day’s profits for the month was £82.66, and the worst down day was -£26.50. This meant that our average daily profit for September was a healthy £15.63.
In terms of bank highs and lows, we came very close to finishing the month at an all-time high, but a mixed last few days resulted in a finish a few quid below the high watermark for the month of £1,070.76 – still we managed to capture 98% of our maximum bank
In contrast, the low for the month was £747.09, which was our starting position for the month, which we never dipped below on a day’s basis :-).
Once the monthly OddsMonkey subscription is deducted, that left an overall profit of £325.77 (or 46.03%) for September…. pretty decent I have to say!
Let’s quickly recap what this all means for the experiment to date, now that we have three completed months under our belts…
Since Inception Results
Here is the chart from the start of the experiment, showing daily profit and loss (blue bars) and the cumulative profit and loss (green line)
As mentioned above, the overall return comes since the start comes in at 107.5%. Elsewhere:
- To date, 710 total bets have been placed across 58 days. That’s an average of around 12 bets per day.
- In total, £3,397.10 has been turned over through my chosen bookmakers, yielding a very decent 16.03% return on investment.
- Ignoring the 21 bets that were void or non-runners, there have been 689 completed bets and in terms of outright winners, 85 have come in first past the post (12% of bets); 189 horses placed (27%) and 415 horses failed to win or place (60%)
- The best daily profit overall is £98.50, and the worst down day was -£66.52. This meant that our average daily profit is running at £9.39 overall.
- In terms of bank highs and lows, the current high water mark is £1,070.76 (which would represent a 111.3% return), and the low point is all the way back in July when we hit £463.53 (which would represent a -8.5% overall return)
- Once the monthly OddsMonkey subscriptions are deducted, that’s an overall profit of £490.67 (or 96.82%).
Now that three months are completed, there are a few things that will be changing as we head into October…
Having maintained a 1% risk of starting bank from the beginning (£5 per bet, split £2.50 each way), the time has come to recalibrate our bet size to £10 per bet (£5 each way). This still represents roughly 1% of our current bank of £1,000. As our profits rose, the bet size remained fixed so, in effect, our risk per bet was dropping lower and lower to 0.5% risk per bet by the end of September. In order to keep our profit potential high, but cap risk to 1% bets, our bet size needed updating.
From, here, rather than increasing this with each day’s balance, I will again wait until such point comes where our bank doubles again to £2,000 before upping to £20 per bet etc.
A few others things have happened in the latter stages of September and will continue into October…
- Introduction of multiples – nearly all of my bets to date have been single bets (i.e. 1 horse outcomes – they either win or place or lose). I’ve started to throw in a few (reduced odds) multiples, where you combine single bets together for a potentially higher payout. I’ll be doing more of these doubles (and even trebles) when the opportunities arise.
- Additional bookmakers – with profits rising I’ve widened my active list of bookmakers to around 10
- Redistribution of profits – the profits to date have come in different proportions from different bookmakers. To ensure I’m well funded to keep capitalizing on opportunities across all the bookmakers I use, I’ve redeemed some profits from those with high balances to top up those with lower balances.
So, I look forward to what October can bring with higher stakes. I think it will be unrealistic to achieve 45-50% returns every month so I’m cautious on that front staking larger amounts, but equally, I do not know for how much longer the run can continue before I get restricted with certain bookmakers so I’m determined to rinse as much out of this as I can.
What about you? Are you having any success with Each Way Betting? As always, I’d love to hear your thoughts or questions below.
Until the next time