This is the Pursue FIRE Each Way Betting Report. Starting with a bank of just over £500, horses have been selected for ‘each way bets’ based on nothing other than their perceived statistical value across a number of bookmakers using specialised software from OddsMonkey. To date, my account has grown over 1,400% over a ten-month period to more than £8,200.
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 everyone back to yet another Each Way Betting report, covering the month of April 2019. If you are new to my blog and wish to follow my each way betting journey from the start, you can catch up on the previous monthly reports here:
For a more fluid view of results, I also maintain a live results page that updates each day as bets are settled. If you want to see a visual of how the results have been since inception (including the upswings and downswings) this is a great place to go! When you are buried in the
This chart emphatically shows that each way betting has been a hugely successful side hustle for me. Go check it out!
Before we continue, please note that usual disclaimer 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.
Right let’s get into some updates 🙂
Bye Bye March
They say that you feel your losses to twice the degree to which that you feel the wins and this was certainly true last month when …. shock… horror….. I had a losing month. You can read about that here.
There was never any need to panic mind you. Even with the drawdown in March, total profits from each way betting (over the 9 months I’d been doing it to the end of March) stood at £4,854 – all from just an initial bank of £507. That being said, I entered April with a degree of trepidation and I was keen to avoid back-to-back losing months.
So what happened? Let’s take a look at how the month panned out in a graphical form. TLC once sang “Don’t go chasing waterfalls….”, but I happen to quite like them:-)
To recap, the waterfall chart below gathers up all the bets for the month and groups the overall profit or loss per day and then plots these in a cumulative fashion. The final (green) bar represents the total profit or loss achieved for the month. Let’s check it out for April…
Well, that turned out rather nicely I’d say 😉
Not only was April a very profitable month (my best yet in fact), it also comfortably offset the loses from March with plenty in spare change. The Each Way Betting machine was very much back in business!
Things are never linear in this game though but April was helped by a really strong start to the month. The first five days, in fact, were all positive and yielded £1,572 in profits. The inevitable lull period followed that saw seven consecutive losing days, during which I gave back £702. Then there was a strong finish to wrap the month during which I gained back just over £2k in five days, including a thumping £783 on the 29th.
On the final day of the month, I was hoping to clear the £3k profit level, but naturally, once I verbalised that goal it got beaten down with a hammer by the betting gods just to ruin my fun 😉
My final few bets of the day were all losers, cancelling out some earlier winners, and so I ultimately fell a little short of this lofty target. I’ll get you another time Mr.£3k 🙂
So in tallying up the numbers, April netted a total profit of £2,879, smashing the previous best month on record (February +£2,463). These profits lift my total bank up top the lofty heights of £8,241 – that’s a growth of 54% in the bank for the month and 1,523% since inception (July 2018).
Just for fun, to have earned the equivalent £2,879 income via my job (on top of my existing salary and net of taxes etc) my gross salary would have to be £5,713 higher than it currently is in April (in annual terms that’s the equivalent to me getting a 74% increase in annual pay gross of tax!)
Results obviously vary month-to-month so these numbers are rather meaningless really, but it does illustrate the extra earning power this side hustle has, especially as results appear to grow exponentially from a low base. I’m 10 months in with £7,553 of net profits from each way betting, which crudely works out as £755 extra per month (so that’s trending at about an extra £20k per year gross to date). Not bad indeed!
I mean, I’d diligently followed the system, completed more than 200 bets and all I had to show for it was -£27. Man, this side hustle sucked 🙁
The next month I turned a profit of £200 and was flipping out and how cool that was but also being nervous about increasing my stakes from £2.50 each way to £3 🙂
Contrast those emotions to today, where I might be risking £600-£800 in a single day – sometimes losing £400-£500 but more often winning several hundred. I try to stay grounded and take the rough with the smooth, but it is fun to ask my wife to guess how much I might have made on a given day and see her reaction when it has been over £1k! Needless to say, I’m less vocal about the down days 😉
The usual stat table below is a useful reminder to me (and hopefully you) of this journey. As I’m now past month 10 it’s getting quite hard to show all the months in one view so I’m showing on the last six months below. Please check prior monthly reports for results going further back. April is on the far right and the since inception totals and averages are on the far left.
So, for April a total of 295 bets were completed across 18 days. That’s an average of 16.4 bets per day and with 42 multiple bets placed.
In total, I turned over volume totalling £7,555 through my chosen bookmakers, yielding a positive 38.1% return on investment (ROI).
Of the completed bets:
- 32 horses were outright winners (11% of total bets) and slightly higher than usual
- 63 horses placed (21%)
- 200 horses failed to win or place (68%)
“As stressed in prior updates, you should expect the majority of your bets to be losing bets. The ratio of winners, place and losers is highly consistent“
Finally, there are the monthly OddsMonkey subscription fees to deduct, leaving an overall net profit of £2,861 (+53.4% bank growth net) for April. While I don’t count it here, I continue to receive some commission payments from OddsMonkey from people who sign up through the blog. A big thank you to those that have.
So with another month in the bag, let’s quickly recap what this all means for the results since inception with eight completed months under my belt
Since Inception Results
Using the new fancy-pants waterfall chart format, here is a summary of the results since inception and don’t forget the since inception chart that lives on the live results page, updated through the end of April.
As the stats table breaks out above, the overall return comes in at just over 1,489%! after fees in a ten-month period. You can see the overall stats in the table above if interested in the shaded column.
Without necessarily intending too my risk budget has been slowly edging downwards in recent months. Or put another way, as the profits and bank size have increased, my stake size has not. There is no particular rhyme or reason for this. I just got comfortable risking £30 total per bet (£15 each way) and not increasing my stakes did not seem to dent the profit potential (March aside) so it just felt right.
But with the bank now topping £8k a 1% risk per bet rule should see me risking £80 total (£40 each way). I don’t plan on going quite that far in one move at least. That is quite a notable jump from where I am and I want to fly under the radar and not bring any undue attention to my accounts from the hoards of data crunchers at the bookmakers who look for unusual patterns in user accounts.
So, I’m instead going to settle on a middle-ground and double current stakes in May to £60 (£30 each way) where bookies allow me. Wish me luck!
If things get off to a bad start I’m sure I’ll quickly regret that decision so it will be interesting to see how that pans out. I know that certain bookmakers I’m using will throw a hissy fit and flat out reject this notion. Others might be okay but I do need to once again widen the list of active bookmakers as I’ve been restricted quite a lot this year.
So, that’s it from me for April. I hope you also had a great month to each way betting. Drop your comments below. I’d love to hear how you got on during April.
I can’t believe I’m only a few months away from completing a full year each way betting. I still smile when I look back at the results since inception and see the returns achieved from this brilliant side hustle. How long it can continue is anyone’s guess but let’s make hay while the sun shines 😉
Until the next time!