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 1,900% over an eleven-month period to more than £9,500.
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 May 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 🙂
Let’s take a look at how the month panned out in a graphical form.
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 May…
So, May was a very respectable month with £2,410 in overall (gross) profit but you can see that the bulk of this return came at either end of the month.
If you recall from my report in April, I upped my stakes to £30 each-way (£60 total) at the start of May. I had been sitting comfortably at the £15 each-way (£30 total) for a number of months prior. True to form, the minute stakes are increased a losing day is sure to come and the very first day of the month was that day for me – a £472 loss to be exact 🙁
Still, I held my nerve and was rewarded in the coming days with +£720 the very next day and then a whopper the day after that which was easily my biggest single day ever, when I pocketed £2,205.
Farewell 365 & Billy Hill
Following that big winning day, the inevitable happened and more accounts got restricted – this time Bet365 and William Hill. These two were particularly hard to accept as I’d guess around 50% of my overall each way betting profits over the past year have been derived from these two accounts. In many ways, I’m surprised they lasted this long!
So the month then went largely sideways for a number of weeks. In all honesty, while I opened up more accounts elsewhere, the OddsMonkey Matcher failed to deliver many selections most days, and my enthusiasm waned a little without the big boys of 365 and William Hill powering me on. I also, had a number of days in bed unwell this month and also spent an increasing amount of time doing some other sports trading, particularly tennis now that the season is right in my time zone with lots of televised matches at the French Open and other clay court events.
I’d also seen that many of my peers were reporting a rather lacklustre run in May and I was therefore in no particular rush to be ploughing in large sums into a weak market. Then, on the very last day of the month I was alerted to a horse and just happened to be in Betfair Exchange when I saw it. I was in the middle of doing some Tennis Trading during the French Open and did not have a moment to pay much attention to it, so I threw £20 on it anyway. It only went and won and pocketed me over £700 to round the month of nicely.
So in tallying up the numbers, May netted a total profit of £2,410, lifting the total bank up to new highs of £10,650 – that’s a growth of 29% in the bank for the month and 1,998% since inception (July 2018).
The usual stat table below is a useful reminder to me (and hopefully you) of this journey. As I’m now past month 11 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. May is on the far right and the since inception totals and averages are on the far left.
So, for May a total of 161 bets were completed across 16 days. That’s an average of 10.1 bets per day which is well down on the long-term average given the account restrictions mentioned.
In total, I still turned over a decent £6,068 in volume through my chosen bookmakers, yielding a positive 39.7% return on investment (ROI).
Of the completed bets:
- 11horses were outright winners (7% of total bets)
- 50 horses placed (31%)
- 100 horses failed to win or place (62%)
“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 £2,392 (+29% bank growth net of fees) for May.
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 May.
As the stats table breaks out above, the overall return comes in at just over 1,959! after fees in an eleven-month period. You can see the overall stats in the table above if interested in the shaded column.
So, that’s another month of each way betting down for May. It just goes to show that, even in a month where I survived on pretty much one single account and had many days where I did bet, it’s still possible to turn a profit. Drop your comments below. I’d love to hear how you got on during May.
Until the next time!