Monthly Each Way Betting Report #11 – May

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.

Pursue FIRE EWB - May 2019

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 daily results it can be hard sometimes to keep the longer-term perspective.

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 🙂

May Results:

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).

Stat Attack

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.

Conclusion

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.

And don’t forget the Full Guide to Each Way Betting if you need any guidance and my spreadsheet to record your bets.

Until the next time!

Dan

OddsMonkey

This Post Has 9 Comments

  1. Hi Dan. Been reading your blog since I found a link from oddsmonkey on the EW NL chat pages. Now that you’ve been gubbed by Bet365 and WillHill, will you change your strategy at all to relax odds or lower Rating % ? I’ve noticed that the odds for a lot of the other bookies aren’t as good as these, so number of matches that pop up on the EW tool are few and far between. This next month will be interesting to watch and see how it’s affected your profits. Hope it stays strong! All the best!

    1. Hi and thanks for your question. I don’t think the strategy changes actually and I’ll continue picking selections based on the existing criteria, rating etc. I agree, that without 365 and WH, there may be fewer selections than in the past, but there are many different bookmakers I’ve yet to exploit. While its a grey area, there is always scope for friends and family to start EWB (with my help) and gain access to second accounts. Cheers 🙂

  2. Another question for you if I may. I’ve started following your strategy guide placing a few EW/NL bets on my gubbed accounts (and a few on Bet365 but might think about limiting that….), and I noticed that a few popped up which met the Filter criteria last night, for races that were not until the following day at around 4pm to 6pm.
    I placed the bets, but silly me I haven’t started tracking them in a spreadsheet yet but will start to (so far I only placed about 4 bets so not really a worry).

    My question is, would placing bets on matches that come up with this large a duration gap be wise? i.e. thinking of bets on the exchanges, the “true” odds should in theory only be appearing as more and more money is placed, which would probably imply a time much closer to the race time as opposed to around 24 hours before. So although the Match shows that there is value in the match from odds at bookies vs odds at exchange at the time it searches, is it correct to place the bets?

    Hopefully I’m explaining it correctly, and apologies if time durations/gaps have already been discussed in the guide somewhere and I’ve missed it…

  3. That’s a good question. It’s not something I personally do. As you point out, it’s unlikely any meaningful money has yet to hit the exchange and so there is a danger that those selections would drop off come the next day. It might also draw unwanted attention to your account from the bookmaker who may well be monitoring the selections sites like OddsMonkey throw-out. Placing them far in advance may flag you up quicker than you’d like. That’s just a hunch rather than fact, but I’d personally avoid doing it. Hope that helps!

  4. Hi,
    Tnanks for your blog and the articles on EW No Lay. Interesting reads!

    How are you managing £30 EW and not getting gubbed more often? I’ve been doing £5 EW and been stake limited by 365 and BF!

    Do you even worry about being gubbed?

    Cheers

    1. Hi Paul, I’ve had my fair share of gubbings, particularly lately so it does make me wonder whether £30 each way and below is the optimal size. I’m probably restricted now on 10-12 of the main bookmakers. A good number of my accounts I’ve had for a number of years having used them from matched betting and other betting in the past. I think having had them established years prior may have given me some more leeway compared to someone opening an account and immediately doing a bunch of each way bets. I also am careful with placing bets on a different device to that which I use OddsMonkey (I never place bets direct from OddsMonkey) . Are you doing EWB yourself?

      1. Hello, thanks for your reply. I am doing EWB yes. I started on 10th May with £4 EW and then went to £5 EW once I was at £200 profit. I made £650 in the first month. I usually bet from 9.30am until 12.00pm, not every day but most. You may be right in the fact that I may be getting restrictions because I’m completely new to the betting lark and have not had a mug bet history. 🙂

        I had been using B365, BetFred, WH, Coral. BF was the first to lose my bonuses and promotions. Now I’ve lost 365 and this morning no more bonuses from Paddy Power! I’m yet to see if there will be a knock-on effect with BetFair!

        I’ve stopped using WH and Coral for now. I can still use 365 even putting on £4 EW on some races, but I have brought into play two other bookies that I have done normal Matched Betting with in the past, bookies that aren’t the big players, but I can get £5 EW on.

        One horse this morning was restricted on 365 to less than £2 with odds of 12, I placed the bet anyway, but on one of the other bookies I saw the same horse at 11 (it also had appeared in the matcher) so I made up my usual £5 bet by making up the difference on that bookie. I managed to get £140 on this morning which is about 10% of my bank, on about 20 races, so I figured l will just see what happens.

        Really I’m aiming for about £300 a month “profit”. If I can pull that off on average, or rather drawdown income from my bank at a rate of £300 per month, then I would be more than happy. I’m not in the thousands of pounds a month bracket as I don’t need to be so I don’t want to risk large EW stakes for no reason. But on the other hand if I’m getting restricted at such low stakes anyway….well?!?

  5. Hi Dan, I also lost Bet365 last month, which was a shame but it was expected after hundreds of EW bets and a very profitable account. I’m at the point now where I am restricted on all the better known bookies, and I’m starting to struggle to know which ones to turn to next. Do you know if there is a resource/forum link with a list of smaller bookie accounts worth opening? Or perhaps swap lists (privately or publically)? It would certainly be very helpful to know which ones are good and which to avoid. Thanks

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Hello and welcome to Pursue FIRE. My name is Dan and I am the owner and author of all content on this site. I am passionate about personal finance and look forward to engaging with you.
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