RTP estimates the share of stakes returned over time; the house edge is the...
https://www.quantifiedstrategies.com/rtp-variance-and-expected-value-applying-a-quantitative-framework-to-online-casino-gaming/
RTP estimates the share of stakes returned over time; the house edge is the casino’s expected share. A 96% RTP means a 4% house edge. Volatility shapes how wins and losses swing. In a short session, results can differ sharply from the average.