That is a 0.47017% chance of loosing again based on 48.8281% odds, correct? (0.488281^8)
Not quite, 0.488281^8 = 0.32312%. But you ended up with the right number anyways. you have a 48.8281% chance of winning, and a 51.1719% chance of losing, so losing 8 in a row would be (0.511719^8) or 0.47017%