Humans are bad at probability, and that's mostly why they gamble too.
Every wheel draw is supposed to be independent (it's not totally so because computer "random" is really a pseudo-random algorithm, but close enough). So every time you draw, the odds are 1:4. Previous draws don't matter.
On an infinitely large number of draws, you'd see a 1/4 success rate. This doesn't mean you can't fail a dozen times in a row (the probability of that is (3/4)^12, about 3%... It happens).
I'd heard the reason for the Xbox One was that some marketing genius noticed people were calling Xbox 360 "the 360", and thought they would call that one... well, the One.
And then everyone laughed and went ex-bone instead.