I repeat, 2 stricks streak of reds in over 20 bets placed busting my dice rolls!
That is pretty common thing to have in PrimeDice actually
How is it random rolls and how is it fair?
Pretty common? So I am rolling with 49.50% chance to get that roll right on a low bet and you say its pretty common to have 20 rolls rolling above 49.50 on a 100 provability chance?
On another place I betted 15 times over 30 and I got 12 times under 30 in a row, so yeah, anything is possible.
The thing to realize about these patterns is that any one pattern is as likely as another because the events are independent. As humans we imagine that "over 50" 100 times is super-special, but in fact it's just as special as "over 50", "under 50" repeated again and again. Any sequence of numbers is equally likely, that's the definition of random, independent events.
every single time the dice is rolled in just about every online dice site you have 'MORE' than a 50% chance to LOSE because of the house edge. There's no special timer that gets reset to ensure a win after a certain number of losses. It's more likely as time and rolls go on that losses will be replaced by wins and eventually balance out to 49.5% wins in a 50/50 roll.
Of course, I had simplified my discussion to a 50/50 scenario. But in fact if you're talking about a house edge which makes win 49.5 then it's by definition
not a 50/50 roll, that is a 49.5/50.5 roll.
The idea that a win is more likely after losses is called the "Gambler's Fallacy". Many betting systems are based off the gamblers fallacy that aims to hedge losses to an eventual win. But the only way to ensure victory in the long run (24 hours doesn't even come close to the long run) is to have an infinite bank roll.
Here you're absolutely correct about gambler's fallacy.