Bhagwan, Your answer is too simplistic - the run of outs of 16 can only be in reference to the number or bets - do you mean a run of outs of 16 in a 100, 200, 300? The expected run of outs is dependent on the number of bets, eg.

if there are 10,000 bets then there is 56% probability that there will be a run of outs of 20 but only 42% probability that there will be a run of outs of 21;

if there are 1,000 bets then there is 63% probability that there will be a run of outs of 14 and a 48% probability that there will be a run of outs of 15;

if there are 100 bets then there is 54% probability that there will be a run of outs of 9 but only 40% probability that there will be a run of outs of 10.