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American Roulette: A Gambler’s Ruin

Louis Bohorquez and Jennifer Switkes
The College Mathematics Journal
Vol. 45, No. 1 (January 2014), pp. 33-40
DOI: 10.4169/college.math.j.45.1.033
Stable URL: http://www.jstor.org/stable/10.4169/college.math.j.45.1.033
Page Count: 8
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American Roulette: A Gambler’s Ruin
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Abstract

Summary American Roulette provides rich examples of Gambler’s Ruin. We use the mathematics of difference equations, and then Markov chain matrix methods, to explore success probabilities under various betting strategies. Ultimately, ruin is likely for the gambler under each betting strategy, but we see interesting results along the way.

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