Admittedly I did not read the entire article, but in the spirit of the article it appears they're just attempting to USE short term variance to explain why a bet may or may not be a 50/50 at any given time. While you can use math to do tricky things like this, it must be understood that this is false at the end of the day, and in the long run. The law of large numbers rules these debates, and time and time (and simulation) again the numbers come out exactly to what they're supposed to be.
I had a physics teacher in high school that used a bit of trickery like this to explain that lights do not emit light and that in fact they are "dark suckers" similar to a black hole. The closer you get the more dark they suck in and the further away the less powerful they are, etc, etc. At the end of the day all of us idiotic high schoolers were like "omg mathematically he's right" then he promptly made fun of us for accepting a couple of his base lines where he did some trickery like this that were essentially false claims.
He also had another experiment, which I think even today is still cute, but it involves similar trickery. Basically, you can "mathematically prove" a 50/50 is ONLY a 50/50 if you believe it is. What it boils down to is sampling size. Say craps pass/don't pass was a perfect 50/50. If someone only played craps 10 times in their life for 1 throw only... Then their results will be PURE variance. It will NOT be 50/50 it will literally just come down to luck. It's the same idea with a coin toss or any 50/50 (or even other odds)... The idea is if the person doesn't get enough trials in their lifetime, then from the perspective of their lifetime the event is NOT a 50/50 (or whatever the true odds are). One could use math to show that over multiple lifetimes it does come out to the true odds, sure... BUT do I personally care about multiple lifetimes? If from the time I'm alive to the time I die the odds aren't 50/50 for me, then it's not a 50/50, regardless of what you say mathematically. This is a fun one to ponder over different scenarios and really makes you think about real life perspective when relating to mathematics... something mathematicians don't often do =).
Playing it correctly means you've already won.