A gambler that bets forever and the strong law of large numbers

DOI10.1080/00029890.2022.2005438MaRDI QIDQ5037313zbMATH OpenOpenAlexFDO

Authors Calvin Wooyoung Chin

Publication date 28 February 2022

Published in The American Mathematical Monthly (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/2105.03803

Mathematics Subject Classification ID

Sums of independent random variables; random walks (60G50) Strong limit theorems (60F15)

Abstract: In this expository note, we give a simple proof that a gambler repeating a game with positive expected value never goes broke with a positive probability. This does not immediately follow from the strong law of large numbers or other basic facts on random walks. Using this result, we provide an elementary proof of the strong law of large numbers. The ideas of the proofs come from the maximal ergodic theorem and Birkhoff's ergodic theorem.

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Cites work

• scientific article; zbMATH DE number 3327848 (Why is no real title available?)
• Probability

Cited in

(2)

• Yet Another Proof of the Strong Law of Large Numbers
• Laws relating runs, long runs, and steps in gambler's ruin, with persistence in two strata

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