Once you've started something or made a small commitment, you might as well go all the way. If you're going to take a risk, take the bigger risk for potentially greater reward.
This British phrase from the 1600s refers to the old monetary system where a pound was worth 240 pennies. The logic was that if you're willing to risk a small amount (penny), you might as well risk the larger amount (pound) for better potential returns.
The phrase captures a uniquely human psychological tendency - once we've crossed a threshold, we often abandon caution entirely. It's the linguistic embodiment of the sunk cost fallacy, but presented as wisdom rather than warning.
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