Ask punter to call heads or tails (lets say he calls tails)
Toss coin twice. If it is a tails and then a tails then start again.
If it is a heads and then a heads then start again
If it is a heads and then a tails he loses
If it is a tails and then a heads he wins
The answer works for whatever bias the coin has, but lets assume it is 10% heads and 90% tails.
Chances of

= 9%
Chances of TH = 9%
By removing all other possibilities we have a total "chance population" of 18% and we now have a 50/50 proposition.
When the guy calls the toss Tails he is in effect picking the Tails/Heads combo without knowing it and the other guy has the Heads/Tails combo.