~snip~
This is something i believe that every gambler should already know and be familiar with, but then, lets not forget that this whole facts about the house having the higher edge over the gambler, this on a very large extent depends on the type of games the gambler is playing, personally, i think house edge have nothing to do sports betting - correct me if i am wrong though, but house edge have nothing to do with sports betting, as winning in sports betting, (no matter what the setting of the house be, or how ever it is programmed,) depends solely on the players knowledge of sports and how much luck they have on their side.
So when ever we are discussing this whole facts about the house always being the winner in the long run, we should never fail to always exclude sports betting in the equations cus someone who is very knowledgeable in sports, and always lucky in their predictions, will always beat the house, even though they may still lose some games from time to time.
Yeah, sports betting is a bit different, but the casinos have really good ways of producing the odds, and there kinda is a house advantage as well, because they don't pay as much as you would think is "fair".
Overall, there will be winners and losers, but it doesn't matter because given the odds and how much each person had to pay, the casinos end up winning anyway.
Imagine a simple scenario, a coin toss, but instead of paying you $1 if you get it right with a $1 bet, they pay you 90c. In the long run the casino will make more money than the gamblers, which will pay slowly over time to the casino. Of course there's a lot of wins and losses in between, but that's the long term math. Same with sports, just a bit more complex math.