If there are multiple possible outcomes, but they are all positive, you're still guaranteed to walk away with more money. If there is any possibility of a negative outcome, no initial stake will guarantee you a positive outcome. If there is a constant outcome, repeated games aren't exactly interesting. What was the larger context that made it interesting to distinguish cases which make repeated games trivial?
There were a number of theorems, IIRC, that involved dividing by the expected variance.
This is difficult to do if the variance is zero.