Who gets the odd chip when a pot is split?
The odd chip goes to the player closest to the left of the dealer button. It is a convention rather than a rule of the game, but it is the one almost every cardroom uses, and the value of agreeing it in advance is that nobody has to decide it while looking at the pot.
The alternative conventions — highest card by suit, or the player who was first to act — exist and are used in some rooms. Any of them is fine. What is not fine is deciding after the split pot has already happened.
For a home game the practical answer is to avoid producing odd chips at all. If the smallest denomination divides cleanly into the usual pot sizes, this situation comes up perhaps once a night instead of every second split.
The same logic applies to side pots, which is where split pots most often occur. A side pot that cannot divide evenly is the normal case, not the exception, once three or more players are all in.
The full answer
This question is covered in depth, with worked examples, on the page below.
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