Yeah, most people don't do it nowadays. You see most of the big stakers with big cash stacks, it's expensive to cast those spells so if your betting small amounts it's not worth it.
In my opinion that's it should be. After all, gambling is all about luck, not who can switch between attack styles faster.
Also, I finally found someone that mage boxed and did my first mage box on 07 today. Not gonna lie, it was probably the most fun I've had in a while, brought back so many memories.