Chip
Chips are the name given to casino tokens that are normally used in the game of poker as an equivalent of money. These chips are normally made of ceramic, clay or even metal while cheaper versions are available in plastic even. Metal chips are normally used in slot machines while the other forms are more prominent in table games.
Gaming plaques have also been used to denote the higher amounts, usually in excess of $25,000 and above and are known to have serial numbers and are rectangular, not round, like chips.
Chips first came into existence in the 1800s although initially, people used to gamble with anything they believed to be valuable. As a result, small pieces of gold, coins, gold dust and anything that was small or valuable were used as chips. Today, most chips are made out of clay, especially for home usage. Compression moulded and with numbers hot-pressed onto them, these clay chips have been in use since the 1950s.
At the beginning of each game, players are expected to pay money and in return, they receive an equivalent amount of chips at the poker table. Although these tokens are useless outside of a casino, they are worth the value written on them inside. Chips are extremely easy to handle and count, making theft and counterfeiting a bit difficult. Due to their shape and orientation, it is easy for the dealer or pit boss to quickly count the amount without taking wasting too much time in the middle of a game.
All chips of the same kind have the same weight, a necessary requirement by all casinos. This allows them to weigh the chips and calculate the total when it comes to large amounts. Chips also have well researched science behind their inception that has shown that people are happier when gambling with replacement tokens rather than real money.
All chips normally used are available in sets of Red, Green, White, Blue or Black. Lower cost chips are available in a host of other colours and are usually made out of plastic. The colour, size and make of chips are often determined by gaming committees in various states.
In casinos, normally all chips have a distinct marking pattern to denote which casino they belong to. Most casinos do not honour chips from other casinos on their premises. In case of attempts at counterfeiting the chips, casinos have a spare set with alternate markings waiting to replace all the chips on the floor. Any counterfeiters can be caught instantly.
Time and again, casinos have brought out their own set of limited edition chips that are used to commemorate special occasions. The colour scheme remaining the same, these limited edition chips are often considered souvenirs by many patrons, giving the casinos a profit by selling the chips and never having them returned.
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