[PoorTom]

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Also betting $1 on black and $1 on even will increase your variance compared to just $1 on black. Since it is autoplay and you can minimize it while it is running, no reason to increase variance by betting more than the minimum.


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I don't see how betting on black and even increases your variance. They are independent bets so variance should be the same. Can anyone confirm this?

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Any time you risk more $$ per spin, variance will increase. In a nutshell if you are betting 2 different bets each spin, it gives you 2 different outcomes to "run bad" on. So if you are betting on black and even, then you could statistically hit a bad run on black and a bad run on even over the same 10,000 spins which will be higher variance than just betting $1 on black over the same 10,000 spins. The EV will stay the same of course over the "long term," but variance will increase. Make sense? I am not a huge statistician, so maybe someone else can do the math.

Halo7

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There's been discussions in the past about single vs multiple hands of blackjack and the effect on variance (which seems like the same issue as discussed here). i think wizard of odds was asked about it once as well.

if i understand correctly the conclusion was that, like you say Halo, playing say two $1 hands/bets will increase your variance relative to a single $1 bet (but not the EV, which yes remains the same). but it won't increase the variance by as much as making a single $2 bet would. i forget the exact math though.