Worse, I think. I always have questioned scenes in movies where people take a knife and purposefully cut it across their palm. I can't think of many worse places to have an open wound, especially if a person is in the middle of doing stuff. But no matter why a person in a movie or TV show needs blood, whether it's a blood oath, to feed a monster or whatever bizarre plot device was chosen, it's likely they will draw a knife across their palm and let the blood drip.
Cutting anywhere else makes more sense, especially if you want to avoid pain and infection when you want to use that hand. Us bipeds, we like to use our hands.
Anyway, this point was driven home over the weekend when I fell and cut open my palm. It's annoying and has been constantly in the way. I'm going to plan on not doing that again, next time I'm going to fall sideways and take the cut to my arm or shoulder. That's much more practical for a person who likes to do stuff.