At 5:50 of the variance video, it was stated that E[X2] = 5, which is incorrect.

The example gave +$4 and +$6 for each of the outcomes. If it were 4 and 6, you will have

E[X2]= (4+6)/2 = 5

But that is incorrect because Game 2 is -$4 for Tails and +$6 for Heads. Then, E[X2] should be :E[X2] = (-4 +6)/2 = 1

This will lead to the conclusion that Game 2 is RISKER than Game 1 because the dispersion from the mean for Game 2 is magnitude 5 and the dispersion from Game 1 from the mean is magnitude 1.