Super Bowl LVII is just around the corner, and the betting has already begun. One of the most popular prop bets of the big game is the coin toss. According to BetMGM, 59% of the money placed by the public so far is on tails.
59 Percent of Public Money Backing Tails in Coin Toss
59 percent of the money wagered on the Super Bowl coin toss is backing tails according to figures released by BetMGM. NFL bettors seem to be strong believers in the ‘tails never fails’ motto.
Super Bowl coin toss (@BetMGM):
59% of money is on Tails (-105).
Tails never fails?
— John Ewing 🦁 (@johnewing) January 31, 2023
This trend is interesting, given the last ten Super Bowl results for the coin toss:
2013 – Super Bowl 47 Heads
2014 – Super Bowl 48 Tails
2015 – Super Bowl 49 Tails
2016 – Super Bowl 50 Tails
2017 – Super Bowl 51 Tails
2018 – Super Bowl 52 Heads
2019 – Super Bowl 53 Tails
2020 – Super Bowl 54 Tails
2021 – Super Bowl 55 Heads
2022 – Super Bowl 56 Heads
Six of the last ten coin tosses have come down on the side of tails. However, the last two have landed on heads, which could mean the public think that tails is due. This is generally known as the Gambler’s Fallacy, where the belief is that if something has happened more often than it should have in the past, it is less likely to happen in the future.
In reality, the odds of every individual coin toss are 50-50, and that does not change regardless of the size of the occasion. The result of the coin toss is purely based on chance and cannot be predicted. However, many people believe that past results may influence the outcome. This belief leads to the trend of more people betting on tails in Super Bowl LVII.
If we were believers in giving up a bit of juice, this would be the perfect time to fade the public!
Regardless of the outcome, the coin toss is just one of the many exciting moments in the Super Bowl. It sets the tone for the rest of the game and gets the crowd fired up. Whether it’s heads or tails, fans are sure to have a great time at Super Bowl LVII.