To throw so as to turn over.
You need to flip the pancake onto the other side.
To put into a quick revolving motion through a snap of the thumb and index finger.
If you can't decide which option to go for, flip a coin.
To win a state (or county) won by another party in the preceding elections
Wisconsin had been Democratic for decades, but the Republicans flipped it in 2016.
To turn state's evidence; to agree to testify against one's co-conspirators in exchange for concessions from prosecutors.
The mafioso flipped on his superiors to get a lighter sentence.
To induce someone to turn state's evidence; to get someone to agree to testify against their co-conspirators in exchange for concessions.
The district attorney was able to strengthen his case against the bank robber by flipping the getaway driver.
To go berserk or crazy.
I'd flip if anyone broke my phone.
To buy an asset (usually a house), improve it and sell it quickly for profit.
To invert a bit (binary digit), changing it from 0 to 1 or from 1 to 0.