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alyssavance comments on Expected utility without the independence axiom - Less Wrong
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"I prefer B to A does not imply I prefer 10B to 10A, or even I prefer 2B to 2A. Expected utility != expected return."
Of course, but, as I've said (I think?) five times now, you never actually get 2B or 2A at any point during the money-pumping process. You go from A, to B, to nothing, to A, to B... etc.
For examples of Vegas gamblers actually having money pumped out of them, see The Construction of Preference by Sarah Lichtenstein and Paul Slovic.