Accumulator bet simulation
Budget: $10 – $30 USD
Hi Experts,
I need a python or excel based solution to hedge one game screwing up my bets.
An accumulator is when you place a single bet on the outcome of multiple matches together. Say there are 4 matches M1, M2, M3 & M4, with odds (for the favourite in each of these matches) being O1, O2, O3 & O4. Say I feel confident that the favourites are going to win these 4 matches. So instead of betting 1 dollar separately on each match, I'll place a single bet of 1 dollar on all 4 of these teams to win. (referred to as a 4-fold accumulator). The new odds O_accum=O1 X O2 X O3 X O4, & I'll receive a payout only if all 4 of my teams win. There is a risk involved as it takes only 1 wrong outcome to screw up your bet, but it can be used to substantially increase your payouts when you're fairly confident.
So if I bet 1 dollar and my 4-fold accumulator bet came true so my payout would be:
P=O1 X O2 X O3 X O4. Whereas if a single match fails, the pay-out is zero.
I need a selection/permutation/combination such that, if 1 or 2 bets fail, I'd still get some pay back.
I need a python or excel based solution to hedge one game screwing up my bets.
An accumulator is when you place a single bet on the outcome of multiple matches together. Say there are 4 matches M1, M2, M3 & M4, with odds (for the favourite in each of these matches) being O1, O2, O3 & O4. Say I feel confident that the favourites are going to win these 4 matches. So instead of betting 1 dollar separately on each match, I'll place a single bet of 1 dollar on all 4 of these teams to win. (referred to as a 4-fold accumulator). The new odds O_accum=O1 X O2 X O3 X O4, & I'll receive a payout only if all 4 of my teams win. There is a risk involved as it takes only 1 wrong outcome to screw up your bet, but it can be used to substantially increase your payouts when you're fairly confident.
So if I bet 1 dollar and my 4-fold accumulator bet came true so my payout would be:
P=O1 X O2 X O3 X O4. Whereas if a single match fails, the pay-out is zero.
I need a selection/permutation/combination such that, if 1 or 2 bets fail, I'd still get some pay back.