ELI5: Explain Like I'm 5

Fair coin

When we talk about a fair coin, we mean a coin that doesn't cheat or show favoritism. Just like when we play a game with our friends, we want everyone to have an equal chance of winning. A fair coin is like that too, it gives us the same chance of getting heads or tails every time we flip it.

You see, when we flip a coin, we don't know which side it's going to land on – it could be heads or tails. When the coin is fair, it means that heads and tails have an equal chance of showing up. It's like picking a red or blue crayon out of a box, if there are the same amount of red and blue crayons, you have an equal chance of getting either one.

Now, what if the coin was unfair? Well, that means one side would have a better chance of showing up than the other. It's like if your friend had two crayons in the box and said you can only pick the blue one, then you wouldn't have an equal chance anymore.

So, remember, a fair coin gives us an equal chance of getting heads or tails and ensures that we all have a fair shot at winning.