Your level of abstraction as an end-to-end operation I would agree with and it's a better example than mine, but the theft metaphor is not accurate because he literally paid the market price for every single step along the way in mining fees and transaction costs. For every token purchase and exchange, there was another person on the other side of that trade.

The argument I'm using is that the casino didn't shuffle their deck and a player calculated an advantage. He didn't have hidden cards, a secret view of anyone elses. I'd like to verify that aspect of the strategy though as it's potentially a powerful heuristic.