There is no such thing as House Money

‘Playing with House Money’?

Excluding the sharpest professional gamblers over the long haul…

All others once they lose the first dollar they spend a lifetime trying to get it back.

@Newtons Law

 no different than when you spend your first dollar and wish you would have saved it

I agree that when you win, it's your money not house money.  However,  when you win, you're playing with a lot more confidence, and as Jack Palance used to say in those Old Spice commercials,  confidence is very sexy and so is winning 

@Newtons Law 

Your on the Money. 

I posted that a while  back  Once you win money it is yours period 

I consider it a very accurate expression. I've observed those who use it always give the money back to the house.

Real tough gamblers are loathe to let any money slip away and play aggressively because they have an edge, not because they're already up a few or think they're on a heater.

My uncle used to say, watching some guy at the track who always lost then finally won a big bet, only to lose it all again, 'Some fellas are not happy until they've given it all back!'

There's something in the psychology of most peope as if it's stingy or weird not to bet loosely with winnings. A pub near me used to do a raffle on the bonus ball for the lotto which would roll over if not won. But once someone won, there was pressure on them from the other barflies to buy all the other players a drink. If someone didn't, they were talked about. These guys could never work out that the whole thing was just a benefit for the bar owner, he was the one who got all the money from any winners. He was 'the house'.