Alice and Bob on X: reversal, coupling, renewal

A neat question involving coin flips surfaced on X, and generated an intensive outbreak of `social mathematics'. In a sequence of flips of a fair coin, Alice wins a point at each appearance of two consecutive heads, and Bob wins a point whenever a head is followed immediately by a tail. Who is more likely to win the game? The subsequent discussion illustrated conflicting intuitions, and concluded with the correct answer (it is a close thing). It is explained here why the context of the question is interesting and how it may be answered in a quantitative manner using the probabilistic techniques of reversal, coupling, and renewal.