What is the Betting Profit Simulator?
This simulator helps you visualize the potential outcomes of your betting strategies by simulating multiple betting scenarios. It shows the probability distribution of your potential profits and losses based on the odds, win probability, and number of bets.
How to Use:
- Enter the odds (decimal format)
- Input your estimated win probability (percentage)
- Set the number of times to simulate the betting conditions
Chart Explanation:
- The x-axis shows the net profit percentage
- The y-axis shows the probability density (percentage)
- Each curve represents a different betting condition
- The area under each curve shows the probability distribution
Tips for Analysis:
- Compare different betting strategies using multiple conditions
- Observe how the number of simulations affects the distribution
- Use the probability density to understand the likelihood of different outcomes