Which has lower variance?

Which of these betting strategies has the lowest variance?

1) betting on 2 of the dozens at same time in roulette
2) betting on black, even, high at same time in roulette
3) betting for multiples of 2 in roulette (betting anytime theres a possibility of a streak of 2,4,6,8,10,12 etc occuring)

I don't really get option 3. You'll need to explain that to me, but that sounds like high variance.

Option 2 would have less variance than option 1, assuming that the total bet is the same. So if you were comparing 15 on 1-12 + 15 on 13-24 vs betting 10 on black, even, and high... option 2 would be lower. Also, it's really 3 even money bets vs. 2 2-to-1 bets, so there's more variance from that alone.

Quote: surrender88s

I don't really get option 3. You'll need to explain that to me, but that sounds like high variance.

Option 2 would have less variance than option 1, assuming that the total bet is the same. So if you were comparing 15 on 1-12 + 15 on 13-24 vs betting 10 on black, even, and high... option 2 would be lower. Also, it's really 3 even money bets vs. 2 2-to-1 bets, so there's more variance from that alone.

Basically 3 is betting that the streak will continue everytime the streak length is an uneven number eg bet streak to continue at streak length of 1,3,5,7,9,11 etc