I DO THIS because I have found that these misconceptions have lost me money.
I have kept records of spins and bets for years and have several hundred such records with many thousands of spins and bets.
I have analyzed those spins and I found that real life differs from what gamblers in general think.
Myself included...

I use LIVE ROULETTE SPINS from a brick-and-mortar casino to make my points. And that casino is Spielbank Wiesbaden in Germany. I use it because everything I show can easily be verified if you download the same spins from here: http://www.spielbank-wiesbaden.de/DE/622/PermanenzenArchiv.php and check them yourself. (I do not use my own records as they can not be verified in an easy way)

I use all downloadable files from Table #3 (this table seems to be the most often referenced) from April 1, 2003 to December 31, 2008. That is a total of 2052 days or 51,065 dealers or 707,492 spins.

Roulette Misconception #1:

If you see 12 RED numbers hit back-to-back you should bet BLACK because it is a very small chance to see 13 Red numbers.

This is often proved by calculating "1 / (2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2) = 1 / 8192" so the chance to hit Black is overwhelming!
Simple math gives Black a mere 18/37 (48.6%) chance...
So what will happen in real life? How often will Black hit after 12 Reds? After 2?
And how often will Red continue?
Click here to find out...

Roulette Misconception #2:

If a number "sleeps" you should wait until it "wakes up" (hits) and then start betting it.

It is often claimed that a "sleeper" that "wakes up" will hit again very soon.
Simple math gives the same distribution for all numbers regardless their "sleeping-time"...
So what will happen in real life? Will "sleepers" hit quicker than else when they "wake up"?
Click here to find out...

Roulette Misconception #3:

All bets will even out in the long term.

You have seen this everywhere... Everywhere where there is a math-person...
And they are correct: All bets will even out - or come closer to the probability - the more spins we investigate.
But that is only half the truth! Do you want to know the rest?
Click here to find out...

If you remember my name from somewhere... Yes, I was a member of Gambler's Glen message-board. A long time ago.
Today I'm retired...