1. Playing with house money refers to money that was given to you, easily obtained or stumbled upon. In other words risking it as in a bet means you would have nothing to lose.
2. Living life on house money refers to narrowly escaping death at some previous point in your life. In other words you have defied death and everyday that you are still breathing is a bonus.
3. In sports playing on house money refers to going up against an overwhelming favorite and playing loose and free like you have nothing to lose. A number 16 seed playing against a number one seed in the NCAA tourney would be playing on house money.
1. I was the only survivor in 747 crash that claimed 158 lives. I am living on house money.
2. We have a sub .500 record and we are playing the defending champs in round one of the playoffs. We're playing on house money.
3. This hotel in Vegas gave me $100.00 in funny money to play with in their casino for booking a 4 night stay.
4. A distant rich uncle passed away and left me $100,000.00. House money woooo hoooooo.