[rstarast]

I would guess it's rather mathematical. Each coinflip has some number of half-flips. Now analyze the distribution of that number. If this distribution were to start at its maximum with 0 half-flips and decay as it increases, summing over the even values (same side up) clearly gives more than summing over the odd values. Now the distribution isn't going to be like that, but I expect that it's generally "front-loaded" in a way that causes a similar effect.

[mewpmewp2]

Yeah, and seeing that the bias occurs only in some people, perhaps it occurs in people who do as little rotation as possible. Not sure if this study has a graph including amount of rotations occurred in general. E.g. you could take all coin flips where 0-5 rotations occurred and compare them to 6-11 rotations.