What is house edge and how does it relate to EV?

House edge is the casino's statistical advantage expressed as a percentage of each bet. An EV of −0.5% means you expect to lose 0.5¢ per $1 wagered on average. Blackjack Counting Calculator displays EV as a fraction of your bet — a value of −0.005 means −0.5% house edge. Minimizing house edge through optimal decisions is the primary goal of blackjack strategy.