I don't even think about taking advantage of the bugs in a casino, because when that happens, they will also detect things that are not natural when we win a game for example. When that happens it will affect our account which may later be limited because it is detected and considered cheating. In fact, it is not cheating that we do, but rather take advantage of something that we can benefit from.
Yes you are right, they can announce such things, not for the purpose of contests or the like, but for their interests as well.
Taking advantage of the bugs can pose a harm to your account especially if you are using your main account that is verified and has funds in it. Your account can be flagged for doing unusual activities that violate their TOS and thus, could be given a punishment such as account restriction, suspension, and even being permanently banned. If you want to take advantage of the glitches, make sure you are ready for the consequences because there's no such thing as unnoticed in casino monitoring.
Exactly like what I said before, of course they also have a system that can detect unusual activity and it will have an impact on our own account, and the worst thing is that our account may be permanently frozen, as you said.
For me, getting a profit that may not be large is not worth what we will feel with account banning or something like that. Usually if we are already flagged, then the slightest suspicious activity will make a casino act more than usual.
It's our choice whether to report it or use it, but I'm sure most people would think the same as I do. So choose wisely.