If it landed on red 10 times in a row so far, the odds of landing another red on the next round are almost 50%. Gambler's fallacy is so much fun to observe at the tables though :)
In The Newtonian Casino (Might be called something else in the US) students who built computers in their shoes (in the 1970s!) to predict the outcome of roulette wheels discovered that lots of wheels had pretty severe tilts (which affected outcome) and that skilled croupiers had a "signature" -- they knew that particular wheel very well, and had practiced many times, and could increase their chance of hitting a particular number. (This is described in the chapter titled "Lady Luck").
It's supposedly possible to predict to a reasonable degree of accuracy where a roulette ball will land if you know its speed (ie time it hits the wheel, and time to pass a predefined marker).
