Definitions for "House Advantage"
Keywords:  casino, advantage, win, wager, edge
see " advantage"
Also called the house edge, the theoretical win percentage, or expected win percentage - when referring to the casino. It is a measure, in percentage terms, of the advantage that a casino enjoys in a specific game. It is the ratio of expected Win divided by expected money wagered (i.e. expected Win divided by expected Handle). The theoretical House Advantage is not necessarily the same as the actual House Advantage. Because of the law of large numbers, as the number of trials gets larger, the actual Win percentage should get closer to the theoretical Win percentage (House Advantage). In some games, the House Advantage can be affected by the skill level of the players. [See Drop. See Handle. See Win.
The "edge" or amount that a casino will win over time, expressed as a percentage of the player's wager. Sometimes called "casino advantage."