When we started dappcasino.io, we only listed real decentralized casinos "gambling dApps." These allowed players to send money directly from their wallet, and if they won, the money went straight back to their wallet. But most of these casinos had big problems. They were slow, full of bugs, and hard for people to use. They mainly worked on the EOS network, but sadly, none of them exist anymore.
Today, many crypto casinos say they are decentralized, but as others have pointed out, this isn’t true. Once you connect your wallet to the site, you lose some control.
There is potential for decentralized casinos, but the risks are high. Right now, the talk about decentralization is just marketing.
You are right, you pointed out everything well, every talks about decentralized casinos today is nothing but marketing indeed.
Personally, I've always known what a decentralization really means, so, I had a clear understanding of what a casino that claim to be decentralized should look and operate like, and this is the reason why when I first played on owl.com,: one of the self acclaimed decentralized casino, I knew the casino wasn't decentralized and got turned off, till today, I still have some left over balance on the site, of which if the casino was really decentralized, that balance should be in my wallet and not on the site waiting for me to possibly withdraw it.
The potential for decentralized casinos is high just as you have said, and I actually don't see any risk higher than normal, it's just that developers are not ready, possibly because they are yet to find good value in building a truly decentralized casino, or perhaps, maybe no one is ready to sacrifice their control, to build a truly decentralized casino.