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Au contraire by a long way: it is all, and only, and nothing but, the house edge.
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I have to au contraire this... LOL...
The house edge is what gives the casino an advantage over the long run. But the reason casinos make money is what Simmo said - they run you down. Keep in mind casinos have deep pockets, and can outride almost any losing streak - while you, the punter, can be wiped out by a short bad streak.
If you have unlimited funds, then this of course is not the case. But most punters who go to the casino tend to say "$500 this trip", "$50 on Megabucks" and so on... and then STILL overrun their budget by pulling out the ATM card they conveniently forgot to leave at home, or by taking out expensive cash advances on credit cards because they DID leave the ATM card at home, and then they take bigger risks hoping to get back to even.
(trust me, been there, done that).
Of course, if there was no house edge, there would be no casino either - and ultimately, the more churn, the more they make. It's a bit of both - but it's definitely not only the house edge.
As for BrianC's advice (hello fellow Jersey boy) - it is almost exactly the method I follow. I deposit $50 at a time, almost never more or less. Any time I can run that to $500 or more, I cash out in increments of $500. And when I hit a cashout level, I cash out and move on to another casino if I still feel like playing.