House edge is simply the amount the house rakes in to cover their costs and plan for new ventures. Where the house makes it's real money is where the punters roll their winning back into vet more wagers at whatever game they are playing - even if they have a big win and eventually the gambler looses out. Always know when to fold/cash in/walk away.
That's the hardest part, and that's the part on which house edge relies.
There's awlays that one question in your mind, "what if"... what if i can double it.
What if after 10 loses, the next one is a win, and i can get all my losses back