Monthly Each Way Betting Report #9 – March

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 900% over a nine-month period to more than £5,300.

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 March 2019

Welcome everyone back to yet another Each Way Betting report, covering the month of March 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.

Cheltenham Festival!

Okay, with the usual introductions and disclaimers aside, the main focus on March was the Cheltenham Festival – one of the biggest events of the year for horse racing!

Bookmakers go crazy during Cheltenham, throwing around offers to tempt in the punters and those that do like a bet, tend to bet big in the hope of winning some decent money. I, like my each way betting peers, was no different and I was very active during Cheltenham week. But, the big question is whether it translated to profits?

March Results:

To answer this question, let’s first take a look at how the month panned out in graphical form. In a slight departure from the previous format, the waterfall chart below plots the daily results in a cumulative fashion, with the final bar representing the total profit or loss achieved. I think it is a neat way to show both the daily results and the cumulative return in one simple chart. Let’s check it out for March…

Pursue FIRE EWB March 2019

Wait, what! This new chart format can’t be right? It says I lost money…. quite a bit of money in fact! Well, the chart sadly does not lie. March was indeed a losing month – the first since my very first month of each way betting all the way back in July 2018. After 7 straight months of positive, compounding growth, March turned out to be a stinker 🙁

I guess it would be irrational to expect a betting system to return positive results month after month without fail, but I had kinda gotten used to ‘seeing the green’ so to speak. So, after a phenomenal start to 2019 (January and February combined, netted £3,921 in profits), March saw a total loss of £1,086, knocking back my total bank back down to £5,362. Put another way, that’s a -16.8% decline in the bank for the month.

What Went Wrong?

It’s hard to pinpoint exactly why March was a losing month. I did not break from any of my rules as such and continued to take the bets as I saw them, risking 1% or less per bet across a spread of bookmakers.

If anything I may have over-betted a little during the Cheltenham Festival (I risked over £10k this month – easily my highest month to date), especially trying to do a significant number of multiple bets.

While many of my fellow bettors had incredible returns for the Cheltenham window, it just never got going for me. Perhaps the allure of the festival blind-sided me a little, but…. taken all in, I can’t complain about the returns this year and longer-term. I always expected a losing month to come at some point and, in some ways, it coming after my best ever month keeps me grounded.

Year-to-Date

Speaking of year-to-date, with the first quarter of 2019 now complete, and even accounting for March, I’m still up over 112% for the year with £2,835 in profits so life is still good 😉

Since inception in July 2018, I’m still sat on a cumulative gross return of 956% taking the starting bank of £507 to £5,362.

So, let’s get our geek on as usual and look at what that means via the usual trusty stats. March is on the far right column with the overall stats on the far left 😉

Stat Attack

Pursue FIRE EWB March 2019

In total, 376 bets were completed in March across 23 days. That’s an average of 16.3 bets per day, with 60 multiple bets placed.

In total, I turned over volume totalling £10,260 through my chosen bookmakers, yielding a negative –10.6% return on investment (ROI).

Of the completed bets:

  • 27 horses were outright winners (7% of total bets)
  • 77 horses placed (21%)
  • 272 horses failed to win or place (72%)

“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 loss of £1,104 (-17.1% bank growth net) for March. 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. This more than covers my month subscription costs and makes this losing month a tiny bit better 🙂

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 March.

Pursue FIRE EWB March 2019

As the stats table breaks out above, the overall return comes in at just over 924%! after fees. You can see the overall stats in the table above if interested.

Conclusion

So, that’s it from me for March. As I write this (April 4th), I’m currently up more than £1,200 in just the first three days of the month – recovering the losses for March so fingers crossed April gets things back on track for another great month of each way betting!

Drop your comments below. I’d love to hear how you got on during March with your betting. I know a lot of people in my Slack group reported incredible results for Cheltenham week and the month overall. Hopefully you caught better selections than I did this month 😉

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

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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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