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 respectfully disagree. I value my bankroll more than my
winnings. I prefer to use less leverage and take less risk
with my bankroll. I'll use higher leverage and take more
risk with OPM. It works for me.