Not even close. I don't have exact numbers, but I did go over the AL East a few days ago. There were 17 3 game losing streaks. There were 12 losing streaks of 4 or more games. Meaning, if you bet on those teams to lose that 4th game, you would have gone 12-17. I didn't crunch the lines in the games, but many times you're betting on a losing streak to continue, you're going to lay juice. Sometimes alot of it.
There are exceptions. The Cards are on a 5 game losing streak and paid the dogs back nicely in their 4th and 5th losses, roughly +140, and +111.
All of baseball will come close to mirroring these numbers.