| Newcastle beat Derby 3-0 (H) on 13 Nov 1948 |
| Derby beat Huddersfield 4-1 (H) on 25 Aug 1948 |
| Huddersfield beat Bolton 2-1 (A) on 6 Sep 1948 |
| Bolton beat Arsenal 1-0 (H) on 2 Oct 1948 |
| Arsenal beat Everton 5-0 (H) on 23 Oct 1948 |
| Everton beat Stoke 2-1 (H) on 8 Sep 1948 |
| Stoke beat Chelsea 4-3 (H) on 2 Oct 1948 |
| Chelsea beat Burnley 1-0 (H) on 25 Sep 1948 |
| Burnley beat Sunderland 3-1 (H) on 13 Nov 1948 |
| Sunderland beat Manchester United 2-1 (H) on 2 Oct 1948 |
| Manchester United beat Wolverhampton 2-0 (H) on 15 Sep 1948 |
| Wolverhampton beat Charlton 2-0 (H) on 6 Nov 1948 |
| Charlton beat Middlesbrough 4-2 (A) on 25 Sep 1948 |
| Middlesbrough beat Blackpool 1-0 (H) on 30 Oct 1948 |
| Blackpool beat Birmingham 1-0 (H) on 23 Oct 1948 |
| Birmingham beat Manchester City 4-1 (H) on 15 Sep 1948 |
| Manchester City beat Aston Villa 4-1 (H) on 16 Oct 1948 |
| Aston Villa beat Liverpool 2-1 (H) on 21 Aug 1948 |
| Liverpool beat Portsmouth 3-1 (H) on 6 Nov 1948 |
| Portsmouth beat Sheffield United 3-0 (H) on 25 Sep 1948 |
| Sheffield United beat Preston North End 3-2 (H) on 6 Nov 1948 |
| Preston North End beat Newcastle 5-2 (A) on 28 Aug 1948 |
HWC: Thick arrows show the earliest chain of wins that passes through every team and returns to its start.