I don't understand blackjack (longish)

[Poshua]

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It depends what kind of game he was playing (i.e. single deck or shoe, favourable or unfavourable rules). While there are some games where you can get it, 0.05% is an extremely low house edge to claim. The house edge of my local game is over 0.6%, so over $1,000 worth of betting he would lose more like $60 in that game.

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$5 expected loss on a $1000 bet means a house edge of 0.5%, not 0.05%. An expected loss of $60 would mean a house edge of 6.0%.