Hi Everyone:

This is the first time I've posted on this forum.

In my Gambling Theory book I argue that those strategies which increase expectation are usually accompanied by a higher standard deviation. However, this is not a hard and fast rule. Two examples where I know it doesn't hold are the ability to read hands well in poker and the surrender rule in blackjack. Both of these will increase your expectation and lower your fluctuations at the same time (which is nice).

I'm now wondering about the insurance rule in blackjack. Assuming you're taking insurance at the appropriate times (according to the count) it will increase your expectation. But what does it do to the standard deviation?

I have my opinion, but would like to hear what others think,

Mason