Even, underlay, and overlay odds simulator

This simulator provides a visual representation of the long-term effects of betting with even odds, odds slightly in favor of the bookmaker (often referred to as "underlay" odds), with negative expected value for the player, and odds slightly in favor of the player (commonly known as "overlay" odds), with positive expected value for him.

Decimal Odds: Margin: Quantity of Simulations:

The line graph traces the trajectory of a bankroll over a predetermined number of bets, each of ¤1, illustrating the distinct paths carved out by different types of odds. With even odds, the bankroll tends to hover around the break-even point over time (zero, in this case), despite potential short-term fluctuations. Conversely, underlay odds lead to a gradual decrease in the bankroll, while overlay odds result in a gradual increase.

This simulator serves as a practical tool for understanding the critical importance of expected value in betting. It demonstrates that even minor deviations from even odds can significantly impact long-term results, underscoring the necessity of identifying and exploiting value when placing bets.