It’s not at all comprehensible, imagine boilerplate TOS from a big company, with a third year statistics course mixed in. But it’s there.
You can just spin a new company every few years claiming completely new software, so law has tough time building case and catching up and probably couldn't care less unless somebody literally snitches on you.
There are many ways casinos try to part their visitors from the money but fraud - these days, not the past - usually isn't the driver. But psychology, greed and environment are just as effective, if not more effective at accomplishing the same goals. The best way not to lose any money in a casino is by not going there in the first place. Most people believe they are immune to the envy of thinking other people around them are winning but they'd be wrong and the whole environment there is geared to make you move into FOMO mode until you're broke.