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Casino chips (also known as poker chips, gaming tokens, or checks/cheques) are small discs used as currency in casinos. Larger, rectangular gaming plaques may be used for high-stakes games. Poker chips are also widely used as play money in casual or tournament games, are of numismatic value to casino chip collectors , or may be kept as souvenirs .
A chip race is an event that takes place in poker tournaments, especially those with an escalating blinds (such as Texas hold 'em), in which chips of denominations that are no longer needed (as the current and upcoming blinds are more easily played with larger chip values) are removed from play.
The Chip Rack, now in its 21st edition, attempts to include all chips and checks issued by casinos in the State of Nevada. Some chips are considered high-value and have a listed value as high as $50,000. During their 2014 convention, a $5 chip from the Golden Goose SOLD for $75,000, and a $5 chip from the Lucky Casino SOLD for $52,500.
Historically, poker chips were made of bone; however, modern casino chips are often made of clay or a clay composite and are considered the most upscale variety of poker chip; other high-end chips are made of ceramic. Plastic chips are also available, at a wide variety of quality levels.
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Awarding odd chips in a split pot. In High-low split games, or when two players' hands tie, the pot must be split evenly between them. When there is an odd amount of money in the pot that can't be split evenly, the odd low-denomination chip can be given to the player whose hand contains the high card by suit.
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