I'm using the definition of house in wide use: the profits you make on gambling or a trade. See: https://www.quora.com/What-does-Im-playing-with-house-money-me

I'm using the definition of house in wide use: the profits you make on gambling or a trade. See: https://www.quora.com/What-does-Im-playing-with-house-money-mean https://www.quora.com/What-does-Im-playing-with-house-money-... The idea that one should factor the origin of the money put into a bet is ridiculous. It's your money either way. > IIRC, the idea of "house money" was invented by earlier researchers who tried to explain why people would bet more after winning. These guys, I think: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1424076 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1424076