Quote Originally Posted by Matroskin Kot
I play a lot of pick-up basketball (то есть не формально) and this is a common expression used by a defensive player if he is successful in preventing an offensive player from scoring, especially if he has blocked a shot attempt.

The "house" is the area around the basket. It is "his house" because he is defending.

That's it in a nutshell.
(I am a native speaker). Matroskin Kot has it correct. It has nothing to do with the location of the game. It is completely slang, and refers to the successful defense of the basket.