AbstractWe consider two players, starting withmandnunits, respectively. In each round, the winner is decided with probability proportional to each player's fortune, and the opponent loses one unit. We prove an explicit formula for the probabilityp(m,n) that the first player wins. Whenm~Nx0,n~Ny0, we prove the fluid limit asN→ ∞. Whenx0=y0,z→p(N,N+z√N) converges to the standard normal cumulative distribution function and the difference in fortunes scales diffusively. The exact limit of the time of ruin τNis established as (T- τN) ~N-βW1/β, β = ¼,T=x0+y0. Modulo a constant,W~ χ21(z02/T2).