| Padova beat Roma 2-0 (A) on 8 Dec 1948 |
| Roma beat Inter 1-0 (H) on 28 Nov 1948 |
| Inter beat Lucchese 4-0 (H) on 8 Dec 1948 |
| Lucchese beat Triestina 3-1 (H) on 19 Sep 1948 |
| Triestina beat Palermo 3-1 (H) on 17 Oct 1948 |
| Palermo beat Milan 2-1 (H) on 26 Sep 1948 |
| Milan beat Bari 2-0 (A) on 19 Sep 1948 |
| Bari beat Pro Patria 1-0 (A) on 17 Oct 1948 |
| Pro Patria beat Lazio 5-2 (A) on 5 Dec 1948 |
| Lazio beat Bologna 8-2 (H) on 21 Nov 1948 |
| Bologna beat Modena 2-0 (H) on 31 Oct 1948 |
| Modena beat Sampdoria 2-1 (H) on 24 Oct 1948 |
| Sampdoria beat Genoa 5-1 (H) on 17 Oct 1948 |
| Genoa beat Atalanta 2-0 (H) on 21 Nov 1948 |
| Atalanta beat Torino 3-2 (H) on 26 Sep 1948 |
| Torino beat Juventus 2-1 (A) on 24 Oct 1948 |
| Juventus beat Fiorentina 3-2 (H) on 26 Sep 1948 |
| Fiorentina beat Livorno 3-2 (H) on 31 Oct 1948 |
| Livorno beat Novara Calcio 1-0 (H) on 8 Dec 1948 |
| Novara Calcio beat Padova 2-1 (H) on 10 Oct 1948 |
HWC: Thick arrows show the earliest chain of wins that passes through every team and returns to its start.