Let me try and explain what is the 'calculated loss' and House advantage (HA) in the casino.
If you flip a coin 100 times you can say there is a 50-50 outcome of head and tail happening.
But in everyday real life for every 100 flips this 50-50 outcome occurs only in 12% of the times.
Other times you will get 40+/50+ either way.
So if you bet on the side that occurs more than you win.
In the casino for Slots the casino has set the machine , the RNG (Random Number Generator) to be precise at about 10% HA. Your 'calculated loss' will be 10% of your total bet.
In other words if you bet $10,000 you will lose $1,000. Theoretically, but the casino do very well on these figures.
For tables games The casino make rules that give them for Roulette HA 2.78%., Baccarat 1.35%, BJ/Pontoon !.00% if you play strictly by the book.
u think casino win money becuz of probability? the 1-5% edge over the players are not enough to cover operating costs of a casino, casino is using this as an excuse to cover up the fact that they cheat...they are using all sorts of technology to make the game seems fair, but too bad, you thought that it is all about luck, all about probability. But in actual fact, in the casino, the staff are the gods, they control the outcome, u guys are like beggars begging for money..the staff happy they give u pocket money,they not happy they steal from u. The moment you decide to place a bet, you are like placing your fate in their hands...They will decide what to do with you, for example, mayybe play with your emotions. They let you win, is to make you get greedy so that when you lose until breakeven, you will think that you can win back, but this is exactly what they want you to think so that your loss limits will get larger and larger..... when you 1st started out, you will stop after losing 50, after playing for months, u will stop after 500, then after years, you will only stop after 50,000.....you know why nobody tells you because conflict of interest--the bonus/salary that the staff can get depends on your hard-earned money....they are capitalizing on your ignorance, greed and mistakes ... .i work as a technician in casino, was a compulsive gambler when i was young...no offense...i just hope that singaporeans wont get cheated again.
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...can ask a lot of questions but when some other newbies ask wat he now knows he just kept quiet 
...wat excuse u gave?