I'm new here and I was hoping one of the site experts would be able to help me out. Apologies in advance for any lack of etiquette.

So I'm trying to build a simple Excel random outcome generator based on probability. For example, lets say a horse race with 8 runners (ie. potential outcomes) let's call them Horse 1 - Horse 8 for simplicity.

Each horse has an implied probability of winning between 0% and 100%.

I want to be able to create a formula that will return a single "random" result in to a designated cell based on the probability entered for each horse prior to refreshing.

Is there a simple way to do this by putting the horses in column A, then the probabilities in column B and running the formula?

Thanks in advance.