Guys, nobody is arguing that the probability of getting either heads or tails is different than 50% in a coin toss. Not even CrucialPoint is arguing it. What he is saying is that if you flip a coin ONCE, there can only be two combinations of results-- Heads, or Tails. 1H/0T or 1T/0H
If you flip the coin 500 times in a set, rather than once, the probability (percentage of the time) that you get exactly 250 heads and 250 tails[50/50]) is very low. Take 10 sets of 500 flips. The probability of getting 250 heads and 250 tails (50% probability) is very low for each set. Rather, you can bet that it WON'T be exactly 50%.
Let's say you have two bets. Either you bet it will be exactly 50% (250 heads and 250 tails) or NOT 50% (ANY COMBINATION AS LONG AS ITS NOT 250/250)
If its a bet on ONE coin toss, then you have no edge. The chances are 50/50.
If it's a bet on 100 coin tosses, you can bet that the result probably will not be a perfect 50% heads, 50% tails.
Everybody will bet the probability will not be 50%.
Think outside the box!
If you flip the coin 500 times in a set, rather than once, the probability (percentage of the time) that you get exactly 250 heads and 250 tails[50/50]) is very low. Take 10 sets of 500 flips. The probability of getting 250 heads and 250 tails (50% probability) is very low for each set. Rather, you can bet that it WON'T be exactly 50%.
Let's say you have two bets. Either you bet it will be exactly 50% (250 heads and 250 tails) or NOT 50% (ANY COMBINATION AS LONG AS ITS NOT 250/250)
If its a bet on ONE coin toss, then you have no edge. The chances are 50/50.
If it's a bet on 100 coin tosses, you can bet that the result probably will not be a perfect 50% heads, 50% tails.
Everybody will bet the probability will not be 50%.
Think outside the box!