Chips are a kind of casino currency and greatly simplify many operations related to the financial side of the operation of gambling establishments. Even though various types of gambling have existed since ancient times, and the first gambling establishments appeared in Venice in the 17th century, chips are a relatively new invention of the casino.
The Main Features
We go to casinos to exchange money for chips and to play some games with them. After we play the game and win (or lose), they are exchanged for money again. The difference between the chips we bought at the very beginning and those we exchanged for money at the end is our winnings. Or a loss. Meanwhile, you can play any games with them. In each casino, you can buy chips at the cashier desk using cash or bank transfer. However, it is very important to remember that these are not universal payment means and are only accepted in the casino where they were purchased.
- With the help of chips, you can play any games. You can play card poker, slot machines, roulette, card games. You can play whatever you want – the main thing is that you have enough money to acquire the so-called casino currency.
- They are an analogue of the money that is in your wallet. But at the same time, these chips are real, which you can lose or multiply right now by playing this or that game on them.
- When you buy chips, you buy your right to play. You pay the cashier and here you take the required amount. Among them, there are very small ones – one cent each. There are chips with a large equivalent, for example, one dollar each. And there are large ones – ten dollars or even a hundred dollars.
- In gambling establishments, both online and real casinos, there are coloured chips, the colour of which indicates their denomination. And so, here’s a list of different colours that are used and their denomination. White is $1, red is $5, blue is $10, green is $25, black is $100, magenta is $500, orange is $1,000.
- Every experienced player can easily recognize all of these colours. Most gambling establishments mark the tables for games in the same colour as of the chips. With this simple method, they limit the minimum bet at this table. You immediately understand that if the table is black, then the minimum limit at this table will be at least one hundred dollars. Basically, the colour spectrum of the chips is the same for all casinos.
Now you know that chips are the game currency that can then be exchanged for real money. Without them, the gambling process in specialized establishments simply would not have been possible. They are the internal currency of casinos and were created to standardize financial transactions in casinos and gambling in general.