yes
for example, if we're counting on it landing on red 3 times in a row, it can either land on red or black (assuming we simplify a roulette table and eliminate the green), meaning its a 50% chance each time.
Round 1: Red or Black
Round 2: Red or Black
Round 3: Red or Black
So it can either be:
Red, Red, Red
Red, Black, Red
Red, Black, Black
Red, Red, Black
Black, Red, Red
Black, Red, Black
Black, Black, Red
Black, Black, Black
only one of those 8 scenarios represents all red = 1 in 8 chance at red 3 times in a row.
But even if you bet on red all 3 times with the same amount, there are 4 scenarios that you are going to win money. So the odds of winning something are still relatively the same.