Re: Risked $100, made $684 PROFIT--no work--autoplay
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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.
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It's different with blackjack because you are playing against the same dealer hand. For example if you have two 17's you are either going to win both bets or lose both but if it was two different hands you could win one and lose one thus reducing variance.
In roulette if you bet $1 on black in one spin and then $1 on odd in the other spin you have the same possible combination of results as if you make both bets on the same spin. It's like playing two hands of blackjack at the same time against two different dealers.
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