TheRumpledOne wrote:aliassmith wrote:Why risk your money when you don't need to? Once I
have "free money" why should I risk my own!
Once you get it, it is YOUR MONEY.... not free money or house money... it is YOUR MONEY.
This is a mistake that many people make.
"Ah the fallacy of house money. No such thing. If you have it, or can cash it out, it's YOUR money. If you would like to assign a different risk tolerance to these "winnings" than your initial outlay, go for it. However, most people assign a irrational risk tolerance to "winnings" compared to, say, money received via gift."
" Fallacy is such an abused word but it refers to arguments that use poor reasoning and valuing money differently because you won it or because you were given it absolutely is."
I read a book about $ and it said the same thing.
Compartmentalizing $ was a HUGE error and trick our mind plays on itself.
Without the mind game space wars goes in the TOILET.
As does any chance of me ever "winning" big.