Odds of Choosing Heads-or-Tails

                   

It’s interesting to note tests of folks who are asked to bet or choose heads or tails when tossing coins.

                       

The odds of a coin toss being heads or tails is always 50-50. Yet, when, for example, head comes up twice in a row, a large percentage of players will think that the odds will then favor tails as the next result.

                       

Over a total of as many as 1000 coin flips, you may not get exactly 500 heads and 500 tails, but you can expect a figure extremely close. Still, many folks continue to believe that over the shorter-term, a following coin-toss will have a bearing on past results. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)