Look at max bet (10.5BTC) on max odds (35:1) vs available bankroll (608BTC) there is your answer.
No it's not risk free. Manage your bankroll accordingly.
EDIT: Good news they lowered the risk of ruin. The site now only risk a maximum of 50% instead of 100%+ yesterday. I've never seen more than 1.5BTC bet on 17:1 and 2BTC on 1:1 so in reality they never risked more than 100%.
FYI:
https://bitcointalk.org/index.php?topic=87656.msg1145478#msg1145478Risk of Ruin for Single-0 Roulette (player betting 1 on single number)Bankroll | Risk of Ruin |
0 | 81.605% |
1000 | 17.216% |
2000 | 3.547% |
3000 | 0.75% |
4000 | 0.258% |
5000 | 0.083% |
6000 | 0.025% |
7000 | 0.008% |
8000 | 0.001% |
This chart indicates that if a casino wants to have a less than 0.001% risk of ruin, they must have a bankroll of more than 8000x the maximum bet on a single number.