The rule of thumb, though, is that as long as a casino has the funds to ride out losses it will come out ahead in the end. There are several other ways to limit volatility, including limiting bet sizes and deposit amount or frequency. Capping individual withdrawal amounts is another - although much shittier - way of doing the same thing.
A house that's publicly listed has the significant advantage of both extra buffer (five digits in BTC for S.DICE for instance) and the ability to either borrow against the stock or outright sell it in a pinch. This arrangement really takes most of the volatility risk out of the business.