Hey Mike Welcome!

The fact that gambling is a negative expectation game then I can't see why not. As long as there is always any percentage of house edge these guys(or gals) are cleaning up. 

As Einstein stated

As long as you are only mining alt-coins and not buying them I think it is a safe risk to take. You can always recoup some of the cost of energy by selling the hardware you purchased to mine (graphic cards, other parts) if the coins end up being de-valued.