Further aspects of gambling with the Kelly criterion

We consider two aspects of gambling with the Kelly criterion. Firstly, we show that for a wide range of final results for a series of games, the Kelly bettor would be worse off compared to a flat bets bettor. Secondly, we consider, for the Kelly bettor, situations similar to the gambler s (or his opponent s) ruin in the classical gambler s ruin problem. Here the end points are a reduction of the gambler s capital to a fraction, or its growth to a certain multiple, of its original value.