The coin toss prop basically created the prop bet market after it was invented in the early 1990s.
It's no surprise that it's still one of the most popular Super Bowl bets in the present day, too.
But it's typically a horrible wager, considering the odds. If you value a coin flip at perfect 50-50 odds (spoiler alert: that may not be the case) then the odds should be +100 for both heads and tails.
At sportsbooks, however, the price can seep all the way down to -115. That implies the odds of a heads or tails result is 53.5%. You're giving up a 3.5% premium right when you input your wager.
Since the coin flip prop's inception, though, bettors have wised up and forced the market to move accordingly. For Super Bowl LVII between the Chiefs and Eagles, the worst price on the market at American sportsbooks is at -105.
Still, you're paying a 1.2% premium for every $1 wagered on that line.
The best price on the market right now? At DraftKings, which is giving you even money odds at +100 — at 50% implied odds — that the Super Bowl coin flip lands heads or tails.
Best Odds on Super Bowl Coin Toss: Which Sportsbook Has The Best Price?
Note that this market is prohibited in Colorado, Kansas, Mississippi, North Carolina, Ohio and Tennessee.
Now, as aforementioned, a coin toss isn't quite 50-50. Persi Diaconis — a professor of mathematics at Stanford and a former magician — led a comprehensive study on the matter over a decade ago.
Diaconis found that the side facing up before the coin is flipped has a 1% edge — it lands 51% of the time.
For Super Bowl betting purposes, you're not keen to whatever side is up before the coin flipper ultimately makes his or her move. It's random. And placing your bet during the five-second interval between seeing the answer on TV and the actual flip will be impossible.
But at DraftKings, you'll have comfort in knowing that you're getting the best price on that pure gamble. Just ensure that you're not betting anything lower than +100.
