correct stugots as the calculations only need your winning odds, obviously losing bets are simply -1 units per losing bet.

This kind of calculator would definitely come in handy if you had a system that you wanted to understand that potential for moving forward.

I think (correct me if i'm wrong) this form of random number generation to simulate the potential outcomes is known as monte carlo simulation?

I'd say if you had a system with say 500 bets that was profitable so far and you ran this simulation 50 times, recorded all the profit, drawdown and losing streak figures and worked out the min, max and mode it would give you a pretty good basis for how volatile your system is and its potential moving forward