I made the identity of the Jester for two reasons.
The first was simple. I couldn't use my summoner grimoire while being Loki. Not here. Not in the academy.
Too many eyes were watching me — teachers, nobles, even spies from different factions.
If I showed what I really had, I'd be exposed. People would ask questions I couldn't answer, and sooner or later, someone would decide I was better off dead.
The Jester, on the other hand, could be anything I wanted.
In red, with a mask and a grin, I wasn't tied down. The Jester could cheat at cards, flip coins like tricks of fate, or win so much money people whispered about it.
And if they whispered, good — that meant they feared him. The Jester was free to move in places Loki couldn't touch.
The second reason was the kind of work I had to do. The dirty work.