Hooligans Sportsbook

The Coin Flip: A Fundamentally Unfair Proposition?

  • Start date •
  • Replies
    9 Replies •
  • Views 732 Views
Follow
Matty

Matty

Calorie Smart Human
Since
Jan 26, 2010
Messages
53,580
Score
8,716
Tokens
50
The 50-50 proposition is actually more of a 51-49 proposition, if not worse. The sacred coin flip exhibits (at minimum) a whopping 1% bias, and possibly much more. 1% may not sound like a lot, but it's more than the typical casino edge in a game of blackjack or slots. What's more, you can take advantage of this little-known fact to give yourself an edge in all future coin-flip battles.

http://www.codingthewheel.com/archives/the-coin-flip-a-fundamentally-unfair-proposition

Helpful tip for aspiring pro coin-flippers - always be the tosser.
 
The historical origin of coin flipping is the interpretation of a chance outcome as the expression of divine will. A well-known example of such divination (although not involving a coin) is the episode in which the prophet Jonah was chosen by lot to be cast out of the boat, only to be swallowed by a giant fish (Book of Jonah, Chapter 1).
Click to expand...

Canada
In some jurisdictions, a coin is flipped to decide between two candidates who poll equal number of votes in an election, or two companies tendering equal prices for a project. For example, a coin toss decided a City of Toronto tender in 2003 for painting lines on 1,605 km of city streets: the bids were $161,110.00 ($100.3800623 per km), $146,584.65 ($91.33 per km, exactly), and two equal bids of $111,242.55 ($69.31 per km, exactly). The numerical coincidence is somewhat less remarkable than it appears, because three of the four bids are for a whole number of cents per kilometer.
[edit]Australia
In December 2006 Australian television networks Seven and Ten, which shared the broadcasting of the 2007 AFL Season, decided who would broadcast the Grand Final with the toss of a coin. Network Ten won.
[edit]United Kingdom
In the United Kingdom, if a local or national election has resulted in a tie where candidates receive exactly the same amount of votes after 3 recounts, then the winner can be decided either by drawing straws/lots, coin flip, or drawing a high card in pack of cards [1][2].
In more casual settings, coin flipping is used simply to resolve arguments between friends or family members, or for amusement.
Click to expand...

http://en.wikipedia.org/wiki/Coin_flipping
 
First off, typical slot has close to a 20%vig.
None the less, I find the article interesting and perhaps applicable in other forms of gambling. Particularly the even odd analysis. My first impression however, is that since there is no chance of the first few rotations coming up the fact that we start with an odd #1 is insignificant . Perhaps if we can isolate the lowest likely #of rotations and go from there. hmmm :clueless:
 
does the odd even bet refer to totals in soccer? In that case even should be favorite I would think due to the significant chance of 0. But something like that would be easily analyzed through historical record. I'm thinking of dice
 
You must log in or register to reply here.