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 monthly Each Way Betting update! 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 5 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.
October was a record month with a 65.9% growth in total bank – a sweet £693 in profits. How did things go in November?
Well, what a roller coaster ride November turned out to be! As always, let’s take a look at how the month panned out in graphical form. The blue bars represent the daily profit or loss, while the green line represents the cumulative profit or loss …
As you can see, November was the most volatile month to date. After the first six completed betting days of the month, I was down £238 🙁 only to bank a whopping £1,090 in the six days that followed 🙂 All of that meant the profit at the halfway point of the month was a very healthy £852. I was feeling quite confident that November would see yet another record month, and trump October’s £692 gross profit….
However, the next two weeks were pretty miserable! The winners dried up, the places went a.w.o.l. and the losers kept on coming. From that mid-month high watermark, a total of £476 of built-up profit was eroded by month-end. This is clearly frustrating in a ‘what might have been kinda way’ but ultimately, the month was still profitable!
Overall, the total bank increased 21.6% this month, bringing home £376 in profits. Since July, that’s a cumulative gross return of 318% taking a starting bank of £507 to £2,120. Can’t really complain can I!
Let’s get our geek on and look at some trusty stats 😉
The most significant development during November was the increase in staking amount from £10 to £16 in order to correct the drift in risk budget and ensure it was back up to roughly 1% risk per trade. After that tough opening week, I did drop this down to £14 (i.e. £7 eachways).
In total, 548 bets were completed across 26 days in what was easily my most active month yet. That’s an average of 21.1 bets per day, again driven by an increased focus on multiple bets (doubles, trebles etc), which totalled 87.
In total, I turned over significantly more volume totalling £7,270 through my chosen bookmakers, yielding a 5.2% return on investment (ROI).
Of the completed bets:
- 41 horses were outright winners (7% of total bets)
- 131 horses placed (24%)
- 376 horses failed to win or place (69%)
“As stressed in prior updates, you should expect the majority of your bets to be losing bets. But its still amazing that its possible to lose your stake 69% of the time, yet return a profit for the month.”
November also brought new highs and lows in terms of individual days. The best daily profit was a stonker £342, helped by one horse called Samson’s Reach which managed to win outright despite being priced at odds of 41.0! netting my biggest individual win to date of £350! The worst down day was -£240. This meant that an average daily profit for November was a lower figure than recent months at £14.48.
In terms of bank highs and lows, I obviously fell some way short of the high watermark of £2,596. That being said, I’m not complaining as it still meant capturing 82% of the maximum high.
In contrast, the bank low was £1,506 – a £237 drawdown from our starting position of £1,744.
Of course, there are the monthly OddsMonkey subscription fees to deduct, leaving an overall net profit of £358 (+20.5%) for November…. still very respectable!
So with November officially a wrap, let’s quickly recap what this all means for the results since inception with five completed months under our belts….
Since Inception Results
Here is a glimpse of the since inception chart that lives on the live results page, updated through the end of November. As always, this details the daily profit or loss (blue bars) and the cumulative profit or loss (green line)
As the stats table breaks out above, the overall return comes in at +300%. A few highlights include:
- 1,651 total bets completed across 108 days. That’s an average of around 14.8 bets per day.
- £14,707 has been turned over through my chosen bookmakers, yielding 11.0% return on investment and generating £1,524 in net profits
- In terms of outright winners, 168 have come in first past the post (10% of total bets); 427 horses placed (26%) and 1,056 horses failed to win or place (64%)
- The best daily profit overall is £342, and the worst down day was -£240 (both from November). Average daily profit remains at £14 overall.
- In terms of bank highs and lows, the current high water mark is £2,596 (which would represent a 412% return), and the low point is all the way back in July when we hit £464 (which would represent a -8.3% overall return) – that’s a pretty compelling risk:reward profile
- Net of all OddsMonkey subscription costs (5 months), overall profit is now £1,524 (or +300%).
In response to growing questions about tracking betting activity, I shared my own spreadsheet approach in a recent post, in which I gave a walkthrough of how I approach things. If you wish to download a copy and tailor it to your own needs you can do that via the post or also here:
“Note: You’ll need to make a copy of this spreadsheet in order to make it editable and make it your own. Please don’t request access to edit. I will not maintain my own records in this version from today”
So, that’s me! How are you getting on with Each Way Betting? Did November prove a bumpy one for you too? I’d love to hear how you’re getting on.
And don’t forget the Full Guide to Each Way Betting if you need any guidance.
Until the next time