House edge (Casino term) – In gambling, the “odds” are the chances a person has of winning a bet, but these always work against that person.
The “house” refers to the people who offer the bet (the casino, bookmaker, slot machine owner, etc.) and they always have the “edge”. This means that the designers of the machine or game make sure that it works in their favour and they will always make money overall.
In every betting game, the odds are against the player. Every person who hits the jackpot on a slot machine is actually winning money that previous players lost. The longer you gamble, the more likely it is that you will lose money, because the odds are against you. Many problem gamblers have the false belief that they will be able to “beat the system” but over time they’ll lose money, probably an awful lot of it.