Casinos know about it for about century now. That is why they have a bet limits on each table/game. Looks like not too many people here who are discussing casino strategy actually ever been in the real casino.
The longest streak I have seen for one color in roulette is 13 in a row.. This may help this program: you bet 10 and lose you bet 20 and lose you bet 40 and lose.....Now instead of betting 80, you split it by 4...so next bet is 20 then 40 then 80 then split again.....as long as you can track the splits you can avoid the sprial.