The only risk I've ever heard from holding it is very minor. Mostly, it's good practice for learning control so you can last when you're with a girl later.
The one risk i know of from holding back is that you can have a retrograde ejactulation. It doesn't do any harm, but it defeats the purpose of holding back and can become a habit. What IS a retrograde ejaculation? It's when you come, but since it can't go out the front, it ends up in the bladder.
So again, the only risk here is developing a habit of ejaculating in a less satisfying manner. Small risk, and one that you can counteract. So yeah, practice holding it. Your lover(s) will be the happier for it. If you DO have a retrograde ejaculation, just don't do it again anytime soon. Don't form the habit, and you're all good.
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