There are many online demonstrations available, I'll just drop one here: http://www.cs.stir.ac.uk/~kms/schools/rps/index.php
After a small number of games, computer becomes quite good at consistently beating you at the game.
So, theoretically a casino can observe how you place your bets, then predict your next bets and make their own bets (they always go first) accordingly. The flaw here is if this algorithm is implemented too naively, it can be abused by players by making big amounts of predictable low-value bets, and then making a big opposite bet.
You know the saying "The casino always wins."With or without AI and random number generation algorithms,the casinos will win 99,99% of the time.The important question here is,can a gambler develop an AI or algorithm that can predict random numbers and beat the casino.